Elon Musk, the CEO of Tesla, has inspired a spike in Dogecoin, the world’s largest meme token. The eccentric technocrat has propelled Dogecoin to new heights for the second time in the last week. Musk used drones to project Doge while hosting ‘The Cyber Rodeo’ party in Texas.
The Tesla CEO has been a huge supporter of DOGE. While Musk was speaking to the audience, someone yelled, “To the moon!” “To the moon indeed,” Musk said in response.
DOGE took off as a result of this. Over the past 24hours, the altcoin has risen by approximately 1.10%. At the time of publication, the canine-themed cryptocurrency was selling for $0.1464. DOGE had a great week, with gains of up to 6.07 percent.
According to Ganesh Kompella, Venture Partner at Tykhe Block Ventures, Elon Musk has manufactured a gigantic ‘Doge’ out of drones, and it has been rallying high since then. He further added,
“The world’s richest man is obsessed with this meme coin. With this drone show coupled with him being on Twitter’s board, one can assume some more fireworks are on the way.”
Billy Markus hails Dogecoin in the sky
DOGE was on its way to reclaiming its kingdom after being overshadowed by Shiba Inu’s popularity. However, at the time of press, Shiba Inu was priced at $0.00002468 with a daily drop of 0.64%.
Despite being a meme coin, DOGE was pushed to the sidelines when the meme coin revolution began in 2021. With Elon Musk gaining ownership of Twitter, the community expects DOGE to become more prominent.
DOGE’s inclusion in the Twitter tipping jar feature is much desired. While Twitter has been slow to respond to community pleas for the meme coin to be included in its platform, Musk’s recent acquisition could change that. Billy Markus, the coin’s co-founder, recently tweeted about the reasons why Twitter should incorporate DOGE.
Being the social media platform’s top stakeholder and a board member has its own set of advantages. As a result, the community assumed Musk would be working on a number of Dogecoin-related projects in space.