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Elon Musk significantly increases the value of dogecoin with a tweet

Photo: ANP

The value of crypto coin Dogecoin rose sharply on Friday. That increase followed a message from Tesla CEO Elon Musk on Twitter. He announced that it is now possible to buy fan items from the car brand with dogecoin. This may include clothing with the Tesla logo and miniature cars, for example.

Last month, Musk already announced that it was testing accepting dogecoin as a means of payment for certain products. The exchange rate of the digital currency also reacted strongly to this. In response to Musk’s latest tweet, the value of dogecoin has risen more than 17 percent in the past 24 hours to more than $0.19. Other cryptocurrencies such as bitcoin and ether remained relatively flat.

Dogecoin is named after a meme, a type of funny picture that circulates on the internet. In the 2013 doge meme, a picture of a shiba inu, a dog of a Japanese breed, is provided with funny texts that are deliberately grammatically incorrect. In addition, the lyrics are written in a font that is widely hated and ridiculed on the Internet.

Dogecoin has been promoted by Musk for a long time. The billionaire has been discredited in the past because of his Twitter behavior. For example, in 2018 he sent a tweet in which he falsely claimed that Tesla would be taken off the stock exchange. The message, in which he also stated that the financing had been completed, resulted in a fine from the SEC for misleading investors. He also had to give up his position as chairman of Tesla.



Elon Musk significantly increases the value of dogecoin with a tweet
Source link Elon Musk significantly increases the value of dogecoin with a tweet

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