Elon Musk’s tweets are just as cryptic and unpredictable as the man himself. Take, for instance, the most recent one by the Tesla and SpaceX CEO. Sharing a photo of artwork by Spanish painter and sculptor Joan Miro, the tech billionaire wrote, “Doge barking at the moon”. The original painting from 1926 was named “Dog Barking At The Moon”. Mr Musk’s caption is an ode to the cryptocurrency Dogecoin which has been one of social media’s favourite subjects of discussion for some time now, thanks mainly to the billionaire’s continuous tweets about it.
Doge Barking at the Moon pic.twitter.com/QFB81D7zOL
— Elon Musk (@elonmusk) April 15, 2021
Mr Musk continued tweets on the cryptocurrency look to be performing the trick as Dogecoin recorded a 68 % jump on Wednesday, according to CoinDesk. As of 11.30 am on Thursday, the worth of Dogecoin is $.13 or almost 14 cents.
Dogecoin is a kind of cryptocurrency that was produced as a joke in 2013 by software program engineers Billy Markus and Jackson Palmer. The digital currency was inspired by a viral dog meme, and like Bitcoin, it delivers recourse to the inadequacies of standard banking systems. It was in no way meant to succeed and was utilized and traded for a extended time as a joke.
However, earlier this year, the cryptocurrency discovered favour with tech giants, social media influencers, and bigwigs across industries. Mr Musk has been one of the most ardent supporters of Dogecoin. On February 4, 2021, he wrote, “Dogecoin is the people’s crypto.” The uncomplicated tweet in favour of the digital currency sent its worth up by 75%.
Dogecoin is the people’s crypto
— Elon Musk (@elonmusk) February 4, 2021
ur welcome pic.twitter.com/e2KF57KLxb
— Elon Musk (@elonmusk) February 4, 2021
The tech billionaire followed this up with a further tweet that study, “If major Dogecoin holders sell most of their coins, it will get my full support. Too much concentration is the only real issue IMO (in my opinion).” “I will literally pay actual $ if they just void their accounts,” he added.
If significant Dogecoin holders sell most of their coins, it will get my complete help. Too a lot concentration is the only actual concern imo.
— Elon Musk (@elonmusk) February 14, 2021
Reacting to Mr Musk’s most recent tweet, one user wrote, “I hold doge and love the gains, I do see it as a problem though that just from random tweets from a single guy it can drive it so much. Will there be a bubble?”
I hold doge and adore the gains, I do see it as a trouble although that just from random tweets from a single guy it can drive it so a lot. Will there be a bubble.
— Gary Alan (@kammorra) April 15, 2021
With Mr Musk’s tweets possessing a considerable influence on the fate of Bitcoin and Dogecoin, it is all eyes on what will come about next in the planet of digital currency.