Elon Musk is back to tweeting about cryptocurrencies, taking their price for a spin. This time, the Tesla CEO tweeted about his new pet Shib...
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| Elon Musk is back to tweeting about cryptocurrencies, taking their price for a spin. This time, the Tesla CEO tweeted about his new pet Shiba Inu. |
Musk captioned the post as 'Floki has arrived.' Not only is Floki the same breed as Musk's favourite bitcoin currency- Dogecoin, but his arrival has once created a storm in the cryptocurrency market. Shortly after the SpaceX CEO shared the image of his little Shiba Inu pup, Dogecoin shares once again surged in the crypto market.
Elon Musk & Dogecoin
Created in 2013, Dogecoin came into existence as a joke centred around a meme featuring a Shiba Inu dog. The celebrity businessmen is known for openly supporting Dogecoin which has over time built a strong community of followers. Musk had earlier admitted that he was impressed with the coin’s 8,000% gain over the last year. He is also fondly dubbed by his fans as 'Dogefather'.
Floki has arrived pic.twitter.com/2MiUKb91FT
— Name (@elonmusk) September 12, 2021
Eager to see the Shiba Inu's arrival, netizens congratulated Elon Musk and shared a storm of memes for their 'Dogefeather', a term which had now become reality. A netizen even asked for a picture of Floki and Marvin (Musk's other dog) together, however, the tech billionaire revealed that they weren't friends yet.
Dogecoin Jump After Elon Musk's 'Baby Shark' Tweet
Following Musk’s tweet, Dogecoin recorded a +0.36% change in the last 24 hours, with the rise in value, coinciding with the same time Musk posted the tweet 3:50 AM (GMT +5:30).
Dogecoin was not the only cryptocurrency that jumped - Baby Doge Coin, a spinoff of Dogecoin, also recorded a +1.80% in the last 24 hours according to CoinMarketCap. Baby Doge is described as having ‘learned a few tricks and lessons from his meme father, Doge Coin. A Birthed by fans of the Doge community. Baby Doge seeks to impress his father by showing his new improved transaction speeds & adorableness. He is Hyper-deflationary with an integrated smart staking system built in so more baby doge are being added to your wallet. Simply Love, pet, and watch your baby doge grow.’
This is not the first time Musk has ‘accidentally’ led to the surge in prices of the cryptocurrency. It’s not even the second, or third time. Every time Musk mentions the cryptocurrency, a surge (often following an eventual downfall) occurs in the prices of the cryptocurrency. Dogecoin, much like Bitcoin, is a digital coin used for e-transactions. Doge is a reference to the ‘doge’ meme and has a picture of the shiba inu on it. It is a cryptocurrency, a form of digital money that, much like bitcoin, enables peer-to-peer transactions across a decentralized network.
Since its creation, Doge has also been used to donate money to charities. These have included the 2014 Jamaican Bobsled team who couldn’t afford to get to the Sochi Winter Olympics, a Nascar driver named Josh Wise, and a clean water project in Kenya called Doge4Water.
At the peak of the meme’s popularity in 2013, Palmer, an Australian marketer, made a joke combining two of the internet’s most talked-about topics: cryptocurrency and Doge. He bought the Dogecoin.Com domain and uploaded a photoshopped Shibe on a coin.
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