Elon Musk Dogecoin Support on Twitter Makes Cryptocurrency Soar 50 Percent

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Elon Musk Dogecoin Support on Twitter Makes Cryptocurrency Soar 50 Percent

Elon Musk previously influenced the value of Bitcoin, as well as stocks of GameStop and Cyberpunk 2077 developer CD Projekt.

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By Reuters | Updated: 4 February 2021 15:52 IST

HIGHLIGHTS

  • Musk first tweeted "Doge"

  • Musk's tweets about certain companies have sent their prices soaring

  • Shares in GameStop, Etsy and CD Projekt have jumped thus

Dogecoin jumped to $0.05798 (roughly Rs. 4) according to data on blockchain website Coindesk

Photo Credit: Twitter/ @elonmusk

Cryptocurrency Dogecoin surged more than 50 percent on Thursday after billionaire entrepreneur Elon Musk tweeted his support for it, two days after he said he was to take a break from Twitter "for a while".

Dogecoin jumped to $0.05798 (roughly Rs. 4) according to data on blockchain and cryptocurrency website Coindesk. Musk first tweeted "Doge" and immediately followed it up with "Dogecoin is the people's crypto".

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