cryptoglobe.com
On Wednesday (April 28), the Dogecoin ($DOGE) price surged over 23% on crypto exchange Binance shortly after another supportive tweet by Tesla CEO Elon Musk.
Data by TradingView indicates that at 06:15 UTC on April 28, five minutes before Musk sent out his tweet, Dogecoin was trading as low as $0.2592. Then, just 15 minutes after Musk’s tweet, the Doincoin price got as high as $0.3192, which means that $DOGE price surged over 23% vs USD in a span of 20 minutes.
Mira Christanto, Asia Advisor at Messari, had this about the effect of Musk’s tweet on the Dogecoin price:
1 Elon tweet created $3 billion in $DOGE market cap. $DOGE isn't about crypto. It's a bet on social media & the populist movement. https://t.co/cCkLlZWuot pic.twitter.com/zGzkp0qT4u
— Mira Christanto (@asiahodl) April 28, 2021
Anthony Sassano, who is the Product Marketing Manager at Set Labs, Co-Founder of ETH Hub, and the co-host of the “Into the Ether” podcast, said:
People are selling BTC and ETH to buy DOGE again pic.twitter.com/o5MzVGq7pv
— Anthony Sassano Ξ 🦇🔊 (@sassal0x) April 28, 2021
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.