DOGE Increases in Value by 20% After Elon Musk Tweets Endorsement

By bettercallpaul | Better Call Paul | 22 Dec 2020

Better Call Paul Blog

W. Paul Alexander [FLORIDA, 12/22/2020]

Elon Musk Raise DOGE Price by 20% with a Single Tweet

No one can deny that 2020 has been an unprecedented year. From the COVID19 pandemic to the stock market crash to lockdowns and murder hornets and bull runs and All-Time-Highs, I think we can all agree that we're ready to get out of this quagmire and turn the page on this tragic year.

However, the strange occurrences are still happening, and one in particular has to do with Tesla CEO Elon Musk, Dogecoin, and a tweet.

Musk's three-word tweet, followed with a humorous meme showing a DOGE tsunami crashing over a BTC beach, were the ingredients that went into creating an odd moment that will undoubtedly become part of blockchain lore.

Why, you ask? Isn't this just a normal tweet?

Not at all!

Following Musk's endorsement, DOGE immediately spiked to $0.0047, its highest mark since early July.

One tweet, guys.

Now that's power!

What do you all think? DOGE is one of the first-generation cryptocurrencies, and it still active with a relatively large market capitalization. Do you think that there is any change that this currency that started off as a joke will actually become a mainstream store of value?

Or will it stay relegated to a tipping currency?

I'd love to hear your thoughts in the comments below!

Follow me on Twitter: Poor Man's Cryptocurrency (@servicesrds)

References:

Coindesk (12/20/2020) - https://www.coindesk.com/dogecoin-20-percent-jump-price-elon-musk

Cryptocurrency Bitcoin (BTC) Blockchain DeFi DogeCoin (DOGE)

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bettercallpaul

Winner of the Publish0x 100K writing contest, I am a seasoned freelance creative writer with over a decade of writing and journalism experience. I love to write, cook, and learn new things. I look forward to contributing relevant content.

Better Call Paul

A multi-topic blog focusing on legal and technology topics. All published content is intellectual property and copyright protected under federal laws. Copyright is held by the author, W. Paul Alexander.