San Francisco: Again on Twitter after a two-day break, tech billionaire Elon Musk triggered a surge in Dogecoin’s value with a single phrase tweet “doge” on Thursday.
Dogecoin surged by over 50 per cent prior to now 24 hours, based on information from CoinDesk.
In subsequent tweets, the Tesla and SpaceX CEO mentioned “Dogecoin is folks’s crypto” and “No highs, no lows, solely Doge”.
Dogecoin has surged 659 per cent this yr.
This isn’t the primary time Musk’s tweets triggered a surge within the worth of some firms.
His tweet about messaging platform Sign additionally led to a surge within the downloads of the app.
Final week, his put up about retail web site Etsy pushed the value of the corporate’s shares by as a lot as 8 per cent, based on a report in CNBC.
Musk, who has 45.2 million followers on Twitter, makes use of the micro-blogging platform primarily to make bulletins about his future plans.
On Tuesday, he introduced his resolution to take a break from Twitter “for some time”.
The tweet is a repeat of Musk’s June 2020 tweet the place he used the identical phrases, to be again on the platform in two days.
This time, his followers had been calmer in reacting, as they in all probability knew the Tesla and SpaceX CEO could be again in couple of days once more.