Elon Musk’s Dogecoin Tweet Drives DOGE Army Nuts With Excitement

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As a seasoned crypto investor with a decade of experience under my belt, I must say that the recent Dogecoin (DOGE) developments have been nothing short of exhilarating. Elon Musk, the tech maverick known for his knack for turning heads and stirring markets, has once again graced us with his meme-infused endorsement of DOGE.

Tech mogul Elon Musk, known for his numerous ventures in technology, recently shared a tweet that referenced Dogecoin, responding to a post from Melissa Chen, a co-founder of Ideas Beyond Borders, regarding the initial meme-based cryptocurrency.

DOGE retweet from Elon Musk pleases crypto community

Melissa Chen pointed out that it was quite entertaining to hear esteemed journalists from The Wall Street Journal, while on a professional radio broadcast, say “DOGE” seriously in the context of a news story.

She confessed that she found it hard to accept that everything originated from a meme. Later, she mentioned the recently established D.O.G.E. agency, which stands for the United States Department of Government Efficiency, stating: “A government agency was born out of a meme. Incredible!” Musk responded to this tweet by saying: “This is truly amazing.” (Paraphrased from your original text)

The D.O.G.E., or Dogecoin Group, is predominantly led by Elon Musk, a prominent Dogecoin enthusiast and meme lover, along with fellow entrepreneur Vivek Ramaswamy.

The Dogecoin enthusiasts responded with excitement and encouragement, sharing optimistic tweets about DOGE and Musk. For instance, they expressed that “Elon serves as the CEO of DOGE” and “DOGE is simple to say.

This is so awesome 😎 😂

— Elon Musk (@elonmusk) November 14, 2024

For approximately seven years now, Elon Musk has consistently shown strong backing towards Dogecoin. It was around the time when Bitcoin hit its initial record high of $20,000 in 2017 that Dogecoin caught Musk’s eye. Since then, he has often referenced Dogecoin (or the Shiba Inu meme dog Kabosu) in his tweets.

Frequently, this situation significantly influenced the value of Dogecoin, causing it to rise. Lately, Musk has mentioned that he won’t officially support any cryptocurrency, preferring to do so humorously or through memes instead.

DOGE, PEPE net best returns lately

A recently released analysis from data collector Santiment indicates that meme coins have yielded the greatest profits for traders over the last week. Notably, this trend has been observed in popular meme cryptocurrencies such as Dogecoin, Pepe, and Bonk.

Dogecoin (DOGE) has increased by 96%, Pepe Coin (PEPE) has gained 97%, and Bonk (BONK) is ahead with a 67% surge, setting the pace in the meme coin sector’s overall growth.

meme coins have indeed given the highest returns to traders in the past week, with Dogecoin (DOGE) up by 96%, Pepecoin (PEPE) by 97%, Shiboshi Inu (WIF) by 67%, and Bonk (BONK) also by 67%. Historically, a high level of social dominance in speculative assets often signals excessive greed and emotional trading. Proceed with caution…

— Santiment (@santimentfeed) November 13, 2024

As a researcher, I find myself intrigued by a recent statement from the Litecoin X account on Twitter: “Given the current market conditions, I’ve adopted the identity of a memecoin.” This suggests that Litecoin X is aligning itself with popular meme-based cryptocurrencies to adapt to the prevailing market dynamics.

Thursdays saw an impressive surge for LTC, jumping approximately 12% to reach $85, mirroring the rise of other popular coins within the meme coin sector. Currently, though, the price is down slightly, having dropped to around $80, representing a fall of about 5.5%.

Hello everyone! It seems that Litecoin has decided to embrace its fun side and become a meme coin. How about we pitch in and create some LTC-themed memes to kick things off? Perhaps designing a cute, cartoonish Litecoin mascot could be a great start! 😊

— Dogecoin (@dogecoin) November 14, 2024

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2024-11-14 15:15