Tesla and SpaceX CEO Elon Musk, one of the richest men on Earth, showed up again recently over bitcoin (BTC) on Twitter. Now the billionaire is of course talking about his favorite cryptocurrency: dogecoin (DOGE).
Of course, this also goes hand in hand with a huge price increase. At the time of writing, DOGE is making a huge jump from USD 0.249 to USD 0.268, up a whopping 7.6% in less than half an hour!
The dogecoin price rise follows a huge rise in the other big ‘meme’ crypto in the market: rival shiba inu (SHIB). SHIB just got a all-time high (ATH) of $0.00004316. The SHIB price is no less than 45% in the plus today and even 430% compared to a month ago.
The DOGE price increase also follows a number of Twitter messages from Musk, which are somewhat surprising. The Dogecoin Foundation was re-established in August to which some notable names were attached, including Ethereum (ETH) founder Vitalik Buterin and Dogecoin founder Billy ‘Shibetoshi Nakamoto’ Markus.
The Foundation also reported at the time that Elon Musk is represented in the group by Jared Birchall, CEO of Neuralink and head of the family office from Musk. He would act as legal and financial advisor to the group.
Musk now denies that. He says that neither himself, Birchall, nor anyone he knows is affiliated with the Dogecoin Foundation at all. Crypto Twitter reacts surprised, they ask for an explanation, but Musk gives no further response.
Neither Jared, nor me, nor anyone I know has anything to do with this foundation
— Elon Musk (@elonmusk) October 24, 2021
The prices of this meme crypto are starting to decouple further and further from the rest of the crypto market. It looks like the so-called retail FOMO may catch on faster here than on other altcoins. Still, many people call this meme crypto very risky investments.
Furthermore, the billionaire says with an ironic wink that Twitter is full of crypto scams and that he will become the first dogecoin billionaire in the world.
Plus crypto scams haha
— Elon Musk (@elonmusk) October 24, 2021
*In Dogecoin
— Elon Musk (@elonmusk) October 22, 2021
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