"Baby Doge": Elon Musk's latest Dogecoin tweets send price of cryptocurrency soaring yet again

The centibillionaire genius Elon Musk has made the price of Dogecoin soar again with his tweets. Musk, the CEO of Tesla and SpaceX, has been endorsing the cryptocurrency since early 2021. Previously in a poll, way back in 2019, Elon was voted to be the CEO of Dogecoin.

The tech-billionaire, known for his eccentric behavior and tweets on the internet, referred to himself as “The Dogefather,” an obvious play on “The Godfather” from the mafia film series. Musk also starred in “The Weekend Update” skit series on NBC’s SNL (Saturday Night Live), where he portrayed Lloyd Ostertag, a cryptocurrency expert.

On April 1, Elon Musk tweeted:

SpaceX is going to put a literal Dogecoin on the literal moon

The tweet caused the meme cryptocurrency to soar. While many followers thought this to be an ‘April’s fool’ prank, SpaceX announced a mission to put Dogecoin on the Moon.

On May 9, Geometric Energy Corporation (GEC) confirmed in a press release,

The DOGE-1 Mission to the Moon—the first-ever commercial lunar payload in history, paid entirely with DOGE—will launch aboard a SpaceX Falcon 9 rocket.

Furthermore, on May 10, Musk confirmed via a tweet that “SpaceX launching satellite Doge-1 to the moon next year.” He further mentioned that the mission would be paid for in Dogecoin.

However, Elon Musk’s influence on Cryptocurrencies caused Dogecoin to decline in several instances. In his SNL appearance, “Weekend Update” co-host, Michael Che asked Elon: “So, it’s a hustle?” Musk admitted, “Yeah, it’s a hustle.” This caused the cryptocurrency to decline by 28%.

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Elon Musk Doge Tweet: Here are the best memes that are trending.

While Dogecoin’s immense growth could be solely credited to Musk’s endorsement, the cryptocurrency has gained a lot of its popularity due to its meme-based origin.

On July 1, Dogecoin rose over 10% when Elon Musk tweeted a meme of him as “The Dogefather” with the caption “Release the Doge!”

Later on, Elon also tweeted: “Baby Doge, doo, doo, doo, doo…” which is an obvious play to the lyrics of the popular children’s song “Baby Shark.”

Musk has helped Dogecoin rise to 6th position amongst the top cryptocurrency (according to coinmarketcap.com).

Dogecoin value chart (Monthly) dated July 1, 2021. Imag evia: Coindesk

Despite Elon Musk’s push for Dogecoin, the cryptocurrency had still not reached its peak (in May) since Musk’s SNL appearance caused a sharp decline. However, with the ever-growing popularity of Dogecoin, combined with the promised SpaceX mission to get it on the Moon, the crypto may rise again.