The post Elon Musk Sends Dogecoin Abuzz with Latest DOGE Meme Tweet appeared on BitcoinEthereumNews.com.

Elon Musk has once again triggered a mild rally in the price of Dogecoin with a post on X. With Dogecoin whales on a rampage recently, the memecoin might end October positively. Tesla Inc CEO Elon Musk is at it again, releasing a new Dogecoin (DOGE) tweet that has sent the crypto community abuzz. Musk, well-known for his love of DOGE, frequently causes spikes in the memecoin’s price after posting about it on X. Elon Musk’s Cryptic Dogecoin Message In a recent X post, Musk published a photo of himself taken during one of his recent public appearances at Donald Trump’s rally in the US. In the photo, he triumphantly raises both hands to show off his biceps, looking like a powerlifter.  pic.twitter.com/y0UCd5NvMj — Elon Musk (@elonmusk) October 28, 2024 Musk combined the photo with a DOGE meme. The Shiba Inu dog raised its hands similarly and showed a well-trained, muscled body. The photo quickly ignited discussion within the online crypto community. While the DOGE Army responded excitedly and optimistically, some Bitcoin (BTC) enthusiasts commented that they do not believe in memecoins. Popular crypto analyst @Nebraskangooner questioned why DOGE failed to pump following Musk’s post. In fact, instead of staging a rally, Dogecoin declined close to 2% over the past few hours when Musk’s post went live. However, DOGE soon registered an upsurge, trading at $0.1473. An X user @TheBTCTherapist with a large following commented, highlighting how Bitcoin is greater than Doge. Nonetheless, the vast majority of commenters praised DOGE in their posts. Within the past 24 hours, DOGE has experienced a 6.15% increase to $0.1473. The 24-hour trading volume has spiked over 112%, suggesting increasing optimism among investors. As CNF mentioned, DOGE has demonstrated the power of social media and community influence in crypto. Initially regarded as a joke,…

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Filed under: News - @ October 29, 2024 2:26 am