Elon Musk’s latest tweet pumped another meme token by 50%.
Elon Musk needs no introduction as he is the richest person in the world. In 2020, Musk expressed full support for Dogecoin, saying that if a cryptocurrency sector exists, Dogecoin will succeed as the top payment cryptocurrency in the future. Due to Musk’s influence, Dogecoin trading prices soared several times in mid-2021.
On March 20, 2024, Elon Musk tweeted an image of a Cat to show his support for Dogecoin (Doge), but his tweet affected the trading price of $Cat Coin (CAT).
Since most flagship tokens are currently trading at bearish prices, we can see that the trading price of the Cat token has surged 41%, which is significant for the token itself.
During the same period, Dogecoin trading price soared nearly 3.7%.
One cryptocurrency enthusiast expressed sadness that while these worthless cryptocurrency tokens are seeing a huge bounce, actually useful cryptocurrencies are struggling to secure capital flow.
In early 2023, Musk publicly announced that his interests had shifted from cryptocurrencies to the artificial intelligence (AI) sector. In particular, Musk has spoken directly or indirectly about Dogecoin several times over the past few months.
Just a few days ago, Musk said that many people who work at Tesla, who are not wealthy, have requested support for Dogecoin. Tesla’s CEO also said his company would accept Doge payments in the future.
Starting in January 2022, under Musk’s leadership, Tesla began selling some of its products for Dogecoin payments.
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