• On the time of writing, Dogecoin (DOGE) was buying and selling at $0.07018, up 3.13% over the previous 24 hours.
• Elon Musk referred to “canine” in a tweet right this moment.
• Moreover Dogecoin, Musk’s tweet additionally despatched Shiba Inu to a one-day excessive of $0.00000784.

Dogecoin (DOGE), the well-known dog-themed memecoin, surged to a excessive of $0.07121 right this moment after Elon Musk talked about “Doge” in one in all his tweets right this moment.

Musk’s publish despatched DOGE’s worth skyrocketing from $0.069 to $0.07121 in seconds, then shortly parted with a few of the positive factors.

doge ftw pic.twitter.com/bl0trQ7BdU

— Elon Musk (@elonmusk) July 19, 2023

The historical past of Elon Musk’s memecoin

Along with Dogecoin, Elon’s tweet additionally despatched the Shiba Inu (SHIB) worth hovering.

This isn’t the primary time crypto markets have reacted to Elon Musk’s tweet. The market has an extended historical past of reacting swiftly to Elon Musk’s public feedback relating to cryptocurrencies normally and Dogecoin particularly.

Synthetic intelligence-related tokens soared final week when Musk introduced an AI-focused firm to compete with the favored chatbot ChatGPT.

Given his explicit curiosity in DOGE, there was hypothesis within the cryptocurrency neighborhood that Musk could also be a big holder of DOGE. Musk’s curiosity in DOGE got here to the fore when he appeared on Saturday Night time Dwell in Might 2021, taking time for his meme coin to ship the worth skyrocketing to an all-time excessive of 73 cents. rice discipline.

Immediately’s tweet referring to Doge comes forward of Tesla’s (TSLA) second-quarter earnings report due late Wednesday afternoon.