One Tweet from Elon Musk has the ability to move markets. Tuesday night saw the Tesla CEO, embattled Twitter owner and Tesla CEO, push up the prices of canine-themed crypto currencies. just His photo dog.
“The new CEO of Twitter is amazing,” Musk gushed, and his dogThe iconic Silicon Valley style black turtleneck was worn by Judith, who sat in authority in a big armchair at the desk.
Soon afterward, prices of cryptocurrencies Dogecoin (Floki) and Shiba Iu soared. All three are named for dogs. The gains illustrate Musk’s capacity to Mint money just A few thumbs-tapping triggers later, his attention shifted to his Twitter persona after he ordered 80 Twitter employees. to Boost his involvement during Super Bowl.
Dogecoin—arguably the first “memecoin,” or cryptocurrency created specifically as a joke—jumped more than 5% in approximately 15 minutes. The token’s market cap Increased by nearly $100 Million, to more than 500 million according to CoinMarketCap.
Floki is a memcoin that was originally called after Elon Musk’s dogAs well, the price of individual tokens rose rapidly. Within an hour, the individual token’s price increased almost half a percent. total market cap Half of the increase was in height. Shiba Inu was another. dog-themed memecoin named after the breed of Musk’s dog, also saw a price jump, rising more than 1.5% within the first 15 minutes of Musk’s post.
Musk tweeted another photo. dog You can wear glasses with a suit and tie. “So much better than the other guy,” he wrote, perhaps referencing himself, a CEO who cut the majority of Twitter’s workforce since taking the company private in October.
Musk said in December he would resign as Twitter’s CEO after he polled his more than 100 million followers about whether he should stay on as “Chief Twit,” The majority of voters preferred that he step down.
The trend of Musk tweeting to market is not new. Musk will move markets with tweets in 2021. posted that Tesla It was making “merch buyable with Doge,” Dogecoin was the first to respond.
Musk had tweeted three years earlier that he believed he “was considering taking Tesla private.” The “funding was secured,” He said. In response, Tesla’s stock price fell by $12 billion. This was according to lawyers who argued for Musk in an upcoming case. Musk was cleared by a jury in February.
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