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Elon Musk stated in a bold tweet recently that Space X will “put a literal Dogecoin on the literal moon”.
The tweet naturally sums up two of the Tesla CEO’s known interests, space and Dogecoin memes, and as silly as the wording sounds, his “announcement” has already had a real impact.
No sooner had Musk tweeted than the price of Dogecoin spiked, rising an astonishing 18% over the course of the day. Regardless of whether this is just a very trademark April Fool’s joke or not, the influence Musk’s social media activity is exerting is pretty massive.
Dogecoin was launched as a joke in 2013, inspired by the popular Doge meme, and while not intended as a serious cryptocurrency, its value has since been fueled by Reddit and public support from figures like Musk, Snoop Dogg, and Kiss Band member Gene Simmons .
Last month, a simple tweet from Musk on December 20 that read “One word: DOGE” boosted Dogecoin by up to 20.5% in just one day, Benzinga reports.
His fondness for Doge has continued to produce the same effect. For example, the price of Dogecoin rose up to 16% on February 19 after Musk told his 46 million Twitter followers that he had bought some for his nine-month-old son, X Æ A-Xii.
That same month, Musk announced that he liked Dogecoin so much because he loves “dogs and memes,” a feeling many of us can relate to, of course.
This isn’t the first time Musk has brought the idea of Doge on the Moon into public consciousness, suggesting that he may have thought about it for a while. In February, Musk tweeted a meme featuring a Shibu Inu wearing a spacesuit on the lunar surface.
The dog, a breed that Musk has previously announced that it will buy, is holding a Dogecoin flag with the words “Doge” and “Wow” on it.
The tweeted image is accompanied by the word “literally”, while a subsequent tweet reads “to the actual moon”.
The phrase “to the moon” is often used by traders who expect stock prices to rise. In retrospect, however, it might well be that Musk was actually speaking literally.
As a cryptocurrency, Dogecoin exists in the form of digital information rather than actual physical coins that you keep in your wallet.
However, in the past, physical coins were sold as memorabilia. Perhaps Musk will bring one in his pocket during his much-vaunted future trip to the moon?