A 23% jump on the price of DOGE after Elon Musk’s tweet

In recent months, Dogecoin has received great help from multimillionaire and CEO of Tesla, Elon Musk, as well as Dallas Mavericks shareholder, also a multimillionaire, Mark Cuban. Something similar seems to have happened today.


The data shows that at 06:15 UTC, five minutes before Musk tweeted his comment, Dogecoin was trading at $0.2592. Fifteen minutes after Musk’s tweet, the DOGE price had reached $0.3192, jumping over 23% in just 20 minutes. The dogecoin fanatic, mentioned in his tweet on his upcoming appearance, on May 8th, as a guest on the popular midnight TV show Saturday Night Live.


Anthony Sassano, who is Product Marketing Manager at Set Labs, co-founder of ETH Hub, and co-presenter on the “Into the Ether” podcast, said on Twitter: “People are selling BTC and ETH to buy DOGE again”.


Mira Christanto, Asia Consultant at Messari, commented on Elon Musk’s influence on the price of dogecoin: “1 Elon tweet created $3 billion in $DOGE market cap. $DOGE isn’t about crypto. It’s a bet on social media & the populist movement”.