Elon Musk tweet sets off Dogecoin buying frenzy

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uh let us make a turn here when elon musk tweets the world listens especially the crypto world what has to do with a cryptocurrency in a series of tweets early today musk set off an investor frenzy with a single word doge in a tweeted reply to a picture he then posted of a rocket heading to the moon but there is more to this because doge is really on the move let's get to christina parsonevlas who's been really following this story christina thank you elon musk may not always be a man of his word but his tweets sure are worth a lot elon musk promised that he was going to take a break from twitter but only two days later he broke that vow and he tweeted about this cryptocurrency doge he tweeted about it six times here's another tweet we can show you and this is a lion king meme of rafiki holding simba to his kingdom rafiki's face is elon musk simba's face is the doge logo and this is symbolism for the soaring price of doge which has occurred ever since elon musk has tweeted about it but doge quartz what is it it's a peer-to-peer cryptocurrency it was invented back in 2013 as a joke and it's still considered a joke but yet it's year-to-date value has increased 659 percent on january 28th that's just last week dogecoin was the most tweeted about cryptocurrency beating out bitcoin a lot of that had to do with those reddit investors they were pushing up the price and talking about it on wall street bets so much so that robin hood that free trading platform had to disable its instant buying button which means that you could take instant bank transfers to purchase some of these cryptocurrencies but you have today billionaires reuniting on twitter mark cuban also tweeting about dogecoin today it's probably adding to the momentum and we are seeing this momentum all across the cryptocurrency market with ether and with bitcoin bitcoin both still believe and it's at just above 37 000 right now they believe that bitcoin will hit at least 40 000 jp morgan predicting that hundred thousand dollar points so we know elon musk is wealthy uh he's actually worth about 185 billion dollars so he's the richest man in the world beating out jeff bezos but we also know now his tweets are worth a lot liz well well well just to let people know dogecoin right now is at about four and a half cents so i get what mark cuban is saying it's not a big extension of your wallet to pick up a dogecoin we're watching it all christina thank you very much christina parks and nebulous


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