Musk announces “Doge To The Moon” and The Meme Crypto Takes Off – Dogecoin (DOGE/USD)

The richest person in the world is now the CEO of three companies. Along with running Tesla Corporation TSLAAnd the SpaceX And the TwitterAnd the Elon Musk He also finds time to be active on Twitter, where he is now the second most followed person.

Known for its continuous support for meme encoding Dogecoin DOGE / USDComments from Musk early Saturday morning could be the start of another rally for the cryptocurrency.

what happened: Dogecoin has a history with Elon Musk that goes back several years. On April 2, 2019, Musk first referred to Dogecoin, saying that “it might be my favorite cryptocurrency. It’s really cool.”

Musk also published a note on July 17, 2020, referring to Dogecoin’s passage through the global financial system, commenting that “it’s inevitable.”

Since 2021 is the year of Dogecoin, Musk has been one of the biggest supporters of the cryptocurrency, which could help it reach all-time highs of $0.7375.

In May 2021, Musk mentioned Dogecoin when he hosted an episode of “Saturday Night Live.” Musk has appeared in several skits including appearing as fake financial expert Lloyd Ostertag on “Weekend Update”.

Like Ostertag, Musk’s character asked to be called “Dogefather” and explained some of the pros of Dogecoin.

“It’s the future of the currency,” Ostertag said. “It is an unstoppable financial vehicle that will take over the world.”

Musk’s character ends the sitcom by declaring “To mooooon!” Rally support for Dogecoin to rise, often used by the cryptocurrency community.

Repeat holding the Dogecoin say During a Twitter Spaces gathering of thousands of live listeners early Saturday morning.

Related Link: If You Invested $1,000 In Dogecoin When Elon Musk Resurrected His $4 Billion Twitter Proposition, Here’s How Much You Have Now

Why is it important: During the emergence of Twitter Spaces, Musk may have started a new career in Dogecoin. Crypto meme traded higher after Musk completed a $44 billion acquisition of Twitter. Many believe that Musk will incorporate Dogecoin into Twitter’s payments plans and possibly use it in other ways.

“There is likely to be a future for Bitcoin, Ethereum, and Doge,” Musk said, “I can’t really talk to others.” “I think it works fine, maybe some others too.”

musk to caution That he is “not an expert in cryptocurrency” and asked listeners not to get carried away investing in cryptocurrencies.

“I mean, you don’t bet the farm on a Doji, but you know. I work really hard on the Doji front.”

Musk’s appearances on Spaces and his comments about working hard on Dogecoin-related items drove the price of Dogecoin to double digits early Saturday, and also saw the phrase “Doge to the Moon” appear on Twitter.

The highest price ever for Dogecoin was reached around Musk’s “Saturday Night Live” appearance in May 2021 when he referred to the cryptocurrency leading up to and during the show.

While it would take big gains to match all-time highs, announcements from Musk about Twitter integration and constant talk of Dogecoin going to the moon by the world’s richest person could lead to a further rise for the meme.

Doji price action: Dogecoin is up 9% to $0.09055 at the time of writing. Dogecoin has traded between $0.0793 and $0.09399 over the past 24 hours.

Read Next: Bitcoin, Ethereum, and Dogecoin Prepare for Weekend After FTX Chaos, Bullish CPI Data, and This Bullish Pattern

Photo: Created by the Ministry of Communications on Flickr

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