Elon Musk Influence
Dogecoin is back at the top after series of viral tweet of the world richest man Elon Musk. Musk’s followers saw his tweet on Dogecoin as a recommendation.
“One word: Doge,” the world richest man tweeted in December 2020.
This sent the cryptocurrency to a 20% surge and rising. According to the TIE, there were over 100,000 tweets about Dogecoin in the trailing 24 hours period, to when it tweeted, from 50,000 unique non-bot accounts.
The move assumes significance as it is the first time ever that a cryptocurrency has overtaken Bitcoin in terms of the social media spark.