Ilon Musk’s tweet led to a 10% increase in the price of the Dogecoin cryptocurrency

Elon Musk tweeted that the company “Space X is going to literally take Dogecoin to the real moon.” Although the tweet appeared on April 1, it didn’t entirely feel like an April Fool’s joke, given Musk’s well-known fascination with the cryptosphere, including bitcoin and NFTs. And it was as a tweet in support of DOGE that many investors reacted to Musk’s message, though there were also those who took it as an April Fool’s joke.

That is how Musk’s message was perceived by reporter of the American TV channel CNBC on space issues, Michael Schitz, specifying that this is how the tweet looks entrepreneur “at first glance,” but the journalist chose not to learn the details of a possible new space odyssey, which said the head of SpaceX.

Dogecoin (DOGE) was up 10.6 % to $ 0.05893 at the end of April 1. DOGE was up 19.7 % at the moment. The asset itself was created as a joke, but Ilon Musk’s attention to it ensured its entry into the top 10 cryptocurrencies by capitalization at the beginning of February this year. Renowned investor Mike Novogratz also spoke positively about DOGE.

Meanwhile, the growth of the cryptosphere in February-March, bringing the total market capitalization of digital assets to nearly $1.9 trillion, led to increased competition between various cryptocurrencies, and DOGE was in 18th place with about $8 billion in capitalization in early April. There are 129 billion DOGE units in total in circulation.

DOGE managed to rise in price by nearly 24 % in the last week. At the beginning of the year DOGE cost $0.004857 with the daily turnover of 90. 1 million dollars. In three months, the digital asset has risen in price 12.1 times, while the daily turnover grew to $ 5.12 billion, that is, 56.8 times.