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Musk Posted Another Dogecoin Tweet And The Currency Value Rose By Nearly 10%

Dogecoin increased by almost 10% as Elon Musk tweeted about the coin

Wednesday, 28 April 2021

/ by Ella Rose
The "Dogecoin" that originated as a joke has become a big joke now, and the market value has risen to the sky. It is the common opinion of many investors. However, as to how high this day is, there are no investors and institutions yet to give an accurate answer. And before that, driven by celebrity effects such as Musk, the value of Dogecoin will rise further.

Today, Tesla Technoking Musk once again posted a tweet related to Dogecoin on Twitter. At the same time, he said that he will host the "Saturday Night Live" SNL program on May 8.

Affected by this news, Dogecoin pulled up in a short-term, and the increase was expanded to 10 times. Many investors are on the rise again, harvesting wealth and leaving the market. Investors who come in at this moment don't know whether Dogecoin will rise or fall tomorrow, so they can only rely on luck.

As of press time, Dogecoin was quoted at US$0.2979, an increase of about 9.55%, and the highest even reached US$0.3119, while the low within 24 hours was only US$0.2562.

According to the Huobi quotation, Dogecoin has risen by more than 200% during the day and is now reported to be USD 0.397 per coin. The market value of Dogecoin surpasses TEDA and is now ranked fifth in cryptocurrency market value.

William Li, the chief researcher of OKEx Research Institute, a well-known digital asset trading platform, said: "The main reason for this wave of Dogecoin is Musk's'carrying goods'. If Musk does not continue in the future or there is no actual support action, the currency will fall to its original level, and there is even a risk of collapse.

In this regard, some netizens questioned Tesla. As a billionaire, institution, enterprise and miner can seriously affect the price of Bitcoin at will, how can Bitcoin become a store of value? He believes that the existence of a billionaire like Musk who can influence currency quotations with just one sentence is problematic.

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