Dogecoin Jumped 9% After Musk’s Twitter Appearance

DOGE mania returned on Tuesday after the logo of the popular meme-based cryptocurrency appeared in the profile of Elon Musk’s renamed Twitter account.

According to CoinGecko, the price of the seventh largest cryptocurrency in the world by market capitalization increased by 8.9% to $ 0.08. This is the highest price since April, with trading volume rising to more than $1.7 billion.

The rally took place when the symbol “Д appeared in the part of Musk’s Twitter profile, which is usually used to indicate the location. It was placed immediately behind the new company logo “X”.

Musk, who bought this social network last year, also retweeted a user under the pseudonym “DogeDesigner”

Steady growth of DOGE

It has long been known that Musk’s tweets affect the price of Dogecoin. The cryptocurrency rose sharply earlier this year after Twitter briefly changed its logo to a meme with a shiba inu dog associated with the token, but after it was deleted, it fell by more than 8%.

According to CoinMarketCap, Dogecoin’s market capitalization currently stands at $11.4 billion. This is the third pre-formation token tracked by the platform over the past week, which has grown by 18.9%.