Elon Musk Tweets, Dogecoin Surges

Elon Musk has sent the meme cryptocurrency Dogecoin soaring.
Elon Musk Tweets, Dogecoin Surges
Image credit: Elon Musk | Twitter
Image tweeted by Elon Musk.

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!
2 min read

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

More from Entrepreneur

Our Franchise Advisors are here to help you throughout the entire process of building your franchise organization!
  1. Schedule a FREE one-on-one session with a Franchise Advisor
  2. Choose one of our programs that matches your needs, budget, and timeline
  3. Launch your new franchise organization
Entrepreneur Insider members enjoy exclusive access to business resources for just $5/mo:
  • Premium articles, videos, and webinars
  • An ad-free experience
  • A weekly newsletter
  • Bonus: A FREE 1-year Entrepreneur magazine subscription delivered directly to you
Entrepreneur Store scours the web for the newest software, gadgets & web services. Explore our giveaways, bundles, "Pay What You Want" deals & more.

Latest on Entrepreneur