Tesla CEO Elon Musk’s influence in the cryptocurrency market continues. Musk has fired up the biggest meme coin, Dogecoin (DOGE), again. With the effect of Elon Musk’s Twitter post, the altcoin price suddenly rose.
Altcoin price spikes after Elon Musk tweet
Tesla CEO Elon Musk continues to support Dogecoin, the original Shiba Inu-themed meme coin he is a fan of. In response to a video showing his son playing with several Shiba Inu dogs, Elon Musk tweeted that X AE A-XII loves Doges. The altcoin price increased by more than 4% as a result of this post.
However, this movement did not last long. Not surprisingly, the popular meme coin has lost most of its Musk-derived gains. The glorified Bitcoin parody is currently trading at $0.067 on the Binance exchange.
Earlier today, Elon Musk and X showed off their matching haircuts in a rare photo posted on their Twitter account earlier today. Musk confirmed that he and his son were responsible for cutting their hair. A Twitter user named ‘cb_doge’ even pulled out an old photo of Musk. He then compared it to the son of the Tesla CEO.
Tesla CEO continues to influence the crypto world
Last month, Business Insider revealed that the billionaire is the father of twins with Shivon Zilis, a senior executive at Neuralink. Now Musk has a total of 10 children. X is one of two children fathered by Canadian pop star Grimes (Claire Boucher). After embracing their second child, Grimes parted ways with the richest person in the world.
As we reported on cryptokoin.com, Elon Musk promised to share another photo with his Floki Inu dog on Tuesday. Directly inspired by Musk’s Shiba Inu, the price of the token rose more than 16% after the tweet. As you may recall, in mid-June, the Tesla CEO was accused of promoting ‘a crypto pyramid scheme’. In fact, there is a $258 billion compensation claim in the lawsuit.
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