Dogecoin Soars Vertically on Musk's April Fools' Joke
[Asia Economy New York=Correspondent Baek Jong-min] The price of the cryptocurrency Dogecoin surged following a tweet posted by Elon Musk, CEO of Tesla, on April Fools' Day.
On the 1st (local time), Musk tweeted that SpaceX would "literally put Dogecoin literally on the moon."
Although Musk's tweet was presumed to be an April Fools' joke, Dogecoin quickly surged by 32%.
Musk's tweet could mean that SpaceX, which builds spacecraft, will take Dogecoin to the moon, but it can also be interpreted as predicting a sharp rise in Dogecoin's price.
The cryptocurrency media outlet CoinDesk reported, "Whether Musk's tweet was an April Fools' joke or not, the price of Dogecoin rose from $0.053 to $0.070 per coin."
Dogecoin is a cryptocurrency created in 2013 by a software developer for fun, based on the image of the Japanese Shiba Inu dog.
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Musk has posted several tweets advocating for the rise of Dogecoin among cryptocurrencies, which has previously driven a sharp increase in Dogecoin's price.
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