FX.co ★ Just one Musk’s tweet pushes Dogecoin significantly higher

CEO of Tesla and SpaceX Elon Musk decided not to stay aside and once again boosted its favorite Dogecoin by means of a new post on the social network, Tweeter.

Dogecoin plummeted after Elon Musk replied with a thumbs-up emoji to Billy Markus' post. "Keep Dogecoin Absurd," Billy Markus, one of the co-creators of the meme coin, wrote in a Twitter thread. Musk replied with a smiling emoji. Just after the publication of the tweet and Elon Musk’s reaction to it, Dogecoin surged by 13%. Some time later, Elon Musk tweeted a picture of a rabbit holding a rocket and added a comment: “I’ve thought about and … I’m not sorry for party rocking.” Notably, the rocket emoji is used on the Net to indicate a stellar rally. That is why a lot of users suppose that Musk was probably promoting Dogecoin again.

In October, analysts predicted that the altcoin would reach a record high. Crypto market analyst Justin Bennett thinks that Dogecoin is primed for a massive rally of 1,000%. Justin Bennett has come to such a conclusion having analyzed the coin’s price chart. Before that, another meme currency showed an unprecedented jump. Thus, Shiba Inu appreciated by 324% in just one week and ranked 12 on the list of the largest cryptocurrencies in terms of their market cap.