Dogecoin is back and bigger than ever, in part thanks to Elon Musk, who gained over a million new Twitter followers after tweeting about the token.
When the Tesla founder tweeted about dogecoin, the meme cryptocurrency that started as a joke in 2013, its price shot up to an all-time high of $0.0849, a 37% increase over 24 hours. The over-1000% increase over the past two weeks, admittedly from a tiny value, nonetheless catapulted dogecoin into the top 10 most valuable cryptocurrencies.
Other celebrities tweeted about dogecoin, including rapper Snoop Dogg and Kiss bassist Gene Simmons, all fueling the price increase that was also tied to the GameStop stonk fiasco.
Dogecoin wasn’t the only rally, however: since tweeting about the token last Thursday, Musk has gained over a million new Twitter followers.
According to our data, Musk’s tweets on Thursday, February 4, led to a half-million new followers in a single day, a 1.012% increase day-over-day. His current follower count is 46.2 million, up 1.2 million from Thursday’s count of 45 million.
Musk’s tweets from last week include: “Dogecoin is the people’s crypto...No need to be a gigachad to own,” and “Who let the Doge out.” He also posted a meme featuring dogecoin’s mascot, the perpetually surprised Shiba Inu dog, being raised up by Musk in a parody of the iconic opening scene from “The Lion King.” The caption? “Ur welcome.”
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