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Elon Musk, the chief executive officer of Tesla Inc and Twitter, has once again shown that he is a true fan of Dogecoin (DOGE), the world's first and largest meme coin. At the Super Bowl event over the weekend, Elon Musk was spotted sitting close to Fox News owner Rupert Murdoch.
Dogecoin
— Elon Musk (@elonmusk) February 13, 2023
Pointing out the sitting arrangement, renowned media personality Genevieve Roch-Decter asked for more than $318,000 to guess what Musk and Murdoch were likely talking about. In his characteristic manner, Elon Musk responded to the tweet simply by saying "Dogecoin."
Without a doubt, Elon Musk is arguably the biggest proponent of Dogecoin, and he does not spare tweeting about the meme coin to his more than 128.9 million followers on Twitter. Tweets such as this are known to have a massive effect on pushing up the price of Dogecoin, and this is no exception.
Yuri MolchanThe digital currency is currently changing hands at $0.08391, up by 2.50% at the time of writing. The positive changes notably rose following the tweet from Elon Musk, and steeper price upshoots are likely in the works.
Elon's proposed plans for Dogecoin
Since taking over as the owner and CEO of Twitter, Dogecoin has notably featured prominently in most of Elon Musk's most ambitious plans for the social media platform. With Musk already seeking approval to float a payment feature for the micro-blogging site, Dogecoin has been tipped as one of the major digital currencies that will be featured.
Dogecoin has had limited volatility since the start of the year, and this is in part due to fewer promotional tweets from Elon Musk. Now that the billionaire investor has showcased Dogecoin as his favorite digital currency, many community members are anticipating corresponding growth in the price of the meme coin.
Arman Shirinyan
Alex Dovbnya
Vladislav Sopov
Dan Burgin