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Dogecoin Spikes After Another Tweet by Elon Musk

Sputnik International

The cryptocurrency's popularity has been given another boost thanks to tech billionaire Elon Musk's social media habit. 28.04.2021, Sputnik International

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Dogecoin Spikes After Another Tweet by Elon Musk

16:20 GMT 28.04.2021 (Updated: 13:16 GMT 06.08.2022)

SpaceX owner and Tesla CEO Elon Musk arrives on the red carpet for the Axel Springer media award, in Berlin, Germany, Tuesday, Dec. 1, 2020. - Sputnik International, 1920, 28.04.2021

Arty Katkov

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The cryptocurrency's popularity has been given another boost thanks to tech billionaire Elon Musk's social media habit.

The Dogecoin cryptocurrency has spiked more than 20 percent to over $0.31 after SpaceX and Tesla boss Elon Musk again appeared to promote the coin on his Twitter page.

“The Dogefather SNL May 8,” Musk tweeted, referring to his recently announced hosting spot on Saturday Night Live.

The Dogefather
SNL May 8
— Elon Musk (@elonmusk) April 28, 2021

The tweet pushed the cryptocurrency value back towards the record highs it enjoyed two weeks ago after recent declines.

Dogecoin experienced another surge last week, gaining roughly 20 percent in value as traders declared 20 April "Doge Day."

Shiba Inu dog meme-themed Dogecoin was launched in 2013 and quickly gained a massive online following. Now, many famous people are backing the digital coin including rapper Snoop Dog and KISS rock star Gene Simmons.