Dogecoin Sees Sharp 11% Rise Following Elon Musk's Twitter Post

Benzinga2022-11-01

Dogecoin DOGE/USD was seeing a sharp 11% rise early Tuesday, trading above the 14-cent mark, according to data from Benzinga Pro.

The rise followed a tweet from Elon Musk, where the CEO of Tesla Inc. TSLA shared a photo of a Shiba Inu dog wearing a Twitter-branded t-shirt.

Source: Elon Musk's Twitter

Musk has been frequently engaging with the Dogecoin community, in particular co-founder Billy Markus, as he takes charge at Twitter. Late Monday, the world's richest person formally disclosed taking over as the social media company's CEO.

Dogecoin has been seeing momentum this week, with some analysts predicting significant momentum ahead, which could see it cross the 50-cent mark. According to one analyst, the rally in the meme coin could spark a wider altcoin season.

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Comments

BengHing
2022-11-01
BengHing
Buy
WLtan
2022-11-01
WLtan
Great
KITkat
2022-11-01
KITkat
Same trick!
RL7741
2022-11-01
RL7741
Good sharing [Smile]

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