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

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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.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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