Elon Musk asked crypto twitter and the Bitcoin community whether DOGE is a valid cryptocurrency mentioning the cryptocurrency for the second day in a row. The Tesla CEO trolled the crypto community once again, as we are reading further in the following Dogecoin news.
A few minutes of his tweet, it got thousands of rewets, likes, and comments when he asked whether Dogecoin is really a valid form of currency. The tweet was a response to a meme that was shared yesterday which shows a sandstorm engulfing a city name “Dogecoin standard” while the city was named “Global financial system.” It was a joke but the people in the Bitcoin community took this as a sign that Musk could get more knowledge about the leading cryptocurrency.
It’s inevitable pic.twitter.com/eBKnQm6QyF
— Elon Musk (@elonmusk) July 18, 2020
What is even more interesting is that the latest tweet was sent at the exact same time only a day after the previous one was sent where he mentioned DOGE. Elon Musk asked crypto twitter about the altcoin and immediately the cryptocurrency post went viral. After the Tiktok challenge, promoting the cryptocurrency which was popular on the video-sharing app, DOGE was mentioned by Bloomberg, Jake Paul, Keemstart, and other prominent online figures.
Musk’s original tweet on Doge had a huge effect on the value of the altcoin. DOGE rallied by under 20% in the hour after Musk posted. The recent tweet could have a similar effect as the asset gained a few percents in the past 20 minutes of the tweet. Also, OKEx CEO Jay Hao commented that DOGE enjoys healthy longevity and development and has features that cannot be found in many older altcoins, which is why the coin is not a joke.
The OKEx CEO, Jay Hao made positive remarks about the popular meme cryptocurrency. While talking with Cointelegraph, he made clear that he has a positive view of the cryptocurrency despite it being a meme cryptocurrency. However, the BTC Firm Ryze made some strong arguments against Dogecoin after the price dump, following the price craze induced by the TikTok challenge. DOGE’s price last week rallied by the 150%, marking one of the most important increases in the three-day timeframe. The explosive upside move came as a result of the TikTok challenge regarding the dogecoin price. The DOGE/USD price rate crushed upon topping at around $0.00569 on July 8. The BTC firm Ryze made a strong case against Dogecoin after the dump stating that the meme cryptocurrency is behaving similar to the crypto frenzies from 2017.
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