Get All Access for $5/mo

Elon Musk Tweets, Dogecoin Surges Elon Musk has sent the meme cryptocurrency Dogecoin soaring.

By Entrepreneur Staff Edited by Frances Dodds

Elon Musk | Twitter
Image tweeted by Elon Musk.

In a series of overnight tweets to his 45 million followers, Elon Musk drove the value of Bitcoin rival Dogecoin up more than 50%.

His first tweet was only one word: "Doge." He followed it up with "Dogecoin is the people's crypto," and tweeted later: "No highs, no lows, only Doge." The value has increased from 3 cents to over 5 cents at one point on Thursday.

According to CNN, Musk is making a habit of boosting Dogecoin shares. This past December 20, he tweeted, "One Word: Doge" and drove the value up 20%.

Musk has been publicly critical of cryptocurrency bitcoin, calling it BS, but explained on Clubhouse that he regretted not buying it eight years ago. He seems to feel pretty good about where he is with Dogecoin, based on this Lion King meme he tweeted of himself as the monkey Rafiki holding up baby Simba with a Doge head.

Related: How a Series of Elon Musk Tweets Helped Lead Investors to Dogecoin, a Meme-Inspired Cryptocurrency Worth 4 Cents
Entrepreneur Staff

Entrepreneur Staff

Editor

For more than 30 years, Entrepreneur has set the course for success for millions of entrepreneurs and small business owners. We'll teach you the secrets of the winners and give you exactly what you need to lay the groundwork for success.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Most Popular

See all
Business News

Apple Reportedly Isn't Paying OpenAI to Use ChatGPT in iPhones

The next big iPhone update brings ChatGPT directly to Apple devices.

By Sherin Shibu
Business News

Sony Pictures Entertainment Purchases Struggling, Cult-Favorite Movie Theater Chain

Alamo Drafthouse originally emerged from bankruptcy in June 2021.

By Emily Rella
Marketing

Are Your Business's Local Listings Accurate and Up-to-Date? Here Are the Consequences You Could Face If Not.

Why accurate local listings are crucial for business success — and how to avoid the pitfalls of outdated information.

By Alex Quin
Growing a Business

He Immigrated to the U.S. and Got a Job at McDonald's — Then His Aversion to Being 'Too Comfortable' Led to a Fast-Growing Company That's Hard to Miss

Voyo Popovic launched his moving and storage company in 2018 — and he's been innovating in the industry ever since.

By Amanda Breen
Money & Finance

Day Traders Often Ignore This One Topic At Their Peril

Boring things — like taxes — can sometimes be highly profitable.

By Ross Cameron
Productivity

Want to Be More Productive Than Ever? Treat Your Personal Life Like a Work Project.

It pays to emphasize efficiency and efficacy when managing personal time.

By Nickie Rowley