Elon Musk responded to a tweet from a graphic designer at DogeCoin, who requested to visit Twitter HQ. The company’s CEO asked for a payment of 3 DOGE, or 20 cents.
Musk’s tweets about DOGE have influenced its price action more than a few times. Once again, Dogecoin’s value seems significantly impacted by Musk’s tweet about it.
Twitter user DogeDesigner, who works as UX/UI & Graphic Designer at Dogecoin & MyDoge Inc., tweeted that he would visit the United States to see Space X’s Starship launch next month and wouldn’t mind stopping by at Twitter HQ in San Francisco.
Musk responded a few hours later, joking that he could visit, but it would cost him 3 DOGE.
DOGE price reacts
Shortly after the exchange on Twitter, the price of Dogecoin surged by 7% but soon corrected. The meme coin is now trading at $0.077, with its daily trading volume up 6.2% at $735 million.
Elon Musk’s influence on Dogecoin can be attributed to several factors, including his sizeable social media following, as millions of individuals read his tweets daily.
Another reason his tweets receive much attention within the crypto community is his apparent affinity for cryptocurrency and blockchain technology. He bought billions of dollars worth of bitcoin (BTC) last year, although he later sold all of his holdings. His continuous remarks about crypto may have given him a measure of influence in the crypto space.
Meanwhile, dogecoin’s price has grown upward even before Musk’s tweets. Cardano’s CEO and co-founder, Charles Hoskinson, recently talked up the meme coin, which stirred a lot of reactions on Twitter. According to Coingecko, DOGE has experienced a 9.2% increase in the past seven days.