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Elon Musk, the CEO of Tesla and SpaceX, contributed to the increase of dogecoin by posting a flurry of tweets about Dogecoin around 12pm US time. He tweeted the word “Doge”, followed by “Dogecoin is the people’s crypto”, and Even a Lion King meme of him holding up the dogecoin dog. By sharing Dogecoin on Twitter, it caused the crypto money to increase by 50 percent in just 1 hour.
With these posts, Dogecoin’s daily rise exceeded 75%. Dogecoin has been on the rise for the past month, first by reddit users, then by Elon Musk. Dogecoin was created in 2013 largely as a joke. But now it looks like it's gonna be the next bitcoin.
