{"id":452713,"date":"2020-12-20T23:57:03","date_gmt":"2020-12-20T23:57:03","guid":{"rendered":"https:\/\/wncen.com\/?p=452713"},"modified":"2020-12-21T00:03:39","modified_gmt":"2020-12-21T00:03:39","slug":"dogecoin-doge-up-20-on-the-day-after-elon-musk-tweet","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dogecoin-doge-up-20-on-the-day-after-elon-musk-tweet\/","title":{"rendered":"Dogecoin (DOGE) Up 20% on the Day After Elon Musk Tweet"},"content":{"rendered":"<p>Dogecoin (DOGE) is up 20% in the past 24 hours despite Bitcoin, Ethereum, and other segments of the crypto market correcting after a jaw-dropping rally. BTC, for further context, is down 1% in the past 24 hours as it has failed to set new highs above $24,000.<\/p>\n<p>Dogecoin&#8217;s rally has been expected for a while: in all prior bull markets, DOGE has seen relatively strong rallies compared to that of BTC. Though this latest rally seems to have been fueled by Elon Musk.<\/p>\n<p>As <a href=\"https:\/\/wncen.com\/analysis\/btc\/elon-musk-drops-the-bitcoin-bomb-on-twitter-once-again\/\">reported by NewsBTC previously<\/a>, the Tesla and SpaceX chief wrote on Twitter last night that Bitcoin is my safe word.\u201d<\/p>\n<p>In January, the billionaire\u00a0<a href=\"https:\/\/twitter.com\/elonmusk\/status\/49255424\" target=\"_blank\" rel=\"nofollow\">said<\/a>\u00a0that the leading cryptocurrency is \u201cnot [his] safe word.\u201d<\/p>\n<div class=\"jeg_ad jeg_ad_article jnews_content_inline_ads \">Musk proceeded to mention that he likes Dogecoin. Or rather, just &#8220;Doge.&#8221;<\/div>\n<div><\/div>\n<div>The cryptocurrency immediately began to spike higher, which has happened every time the billionaire has mentioned the cryptocurrency over the past few months and years.<\/div>\n<div><\/div>\n<div>Unlike previous times, though, DOGE seems to be maintaining this rally. Again, Dogecoin is up 20% in the past 24 hours as of the time of this article&#8217;s writing.<\/div>\n<h6 style=\"text-align: center\">Related Reading<a href=\"https:\/\/wncen.com\/2020\/09\/18\/ethereum-transaction-fees-surge-to-all-time-highs-after-uniswap-launch\/\">:<\/a> <a href=\"https:\/\/wncen.com\/analysis\/defi-coins\/heres-why-ethereums-defi-market-may-be-near-a-bottom\/\">Here\u2019s Why Ethereum\u2019s DeFi Market May Be Near A Bottom<\/a><\/h6>\n<h2><strong>Actually Interested in Bitcoin, Not Just Dogecoin?<\/strong><\/h2>\n<p>Musk expressed some interest in investing in Bitcoin around the time he made the aforementioned tweets about BTC and Dogecoin.<\/p>\n<p>Michael Saylor, CEO of MicroStrategy, said in response to the executive&#8217;s tweet about Bitcoin:<\/p>\n<blockquote><p>&#8220;If you want to do your shareholders a $100 billion favor, convert the $TSLA balance sheet from USD to #BTC. Other firms on the S&amp;P 500 would follow your lead &amp; in time it would grow to become a $1 trillion favor.&#8221;<\/p><\/blockquote>\n<p>Musk responded by asking if such transactions in Bitcoin are possible, pursuing the idea of making this conversion. He did not respond to Saylor, nor did he comment on Dogecoin further after this interaction.<\/p>\n<h6 style=\"text-align: center\">Related Reading: <a href=\"https:\/\/wncen.com\/analysis\/btc\/tyler-winklevoss-a-tsunami-of-capital-is-coming-for-bitcoin\/\">Tyler Winklevoss: A \u201cTsunami\u201d of Capital Is Coming For Bitcoin<\/a><\/h6>\n<p>While Musk&#8217;s views on cryptocurrencies seem to be mixed at times, especially since he teases Dogecoin so often, he does think BTC has some value.<\/p>\n<p>He said earlier this year that BTC may have some value in a world where fiat monies are being constantly debased by central banks.<\/p>\n<h6 style=\"text-align: center\">Related Reading: <a href=\"https:\/\/wncen.com\/analysis\/btc\/3-bitcoin-on-chain-trends-show-a-macro-bull-market-is-brewing\/\">3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing<\/a><\/h6>\n<pre>Featured Image from Shutterstock\r\nPrice tags: xbtusd, btcusd, btcusdt\r\nCharts from TradingView.com\r\nDogecoin (DOGE) Up 20% on the Day After Elon Musk Tweet<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Dogecoin (DOGE) is up 20% in the past 24 hours despite Bitcoin, Ethereum, and other segments of the crypto market correcting after a jaw-dropping rally. BTC, for further context, is down 1% in the past 24 hours as it has failed to set new highs above $24,000. Dogecoin&#8217;s rally has been expected for a while: in all prior bull markets, DOGE has seen relatively strong rallies compared to that of BTC. Though this latest rally seems to have been fueled by Elon Musk. As reported by NewsBTC previously, the Tesla and SpaceX chief wrote on Twitter last night that Bitcoin is my safe word.\u201d In January, the billionaire\u00a0said\u00a0that the leading cryptocurrency is \u201cnot [his] safe word.\u201d Musk proceeded to mention that he likes Dogecoin. Or rather, just &#8220;Doge.&#8221; The cryptocurrency immediately began to spike higher, which has happened every time the billionaire has mentioned the cryptocurrency over the past few months and years. Unlike previous times, though, DOGE seems to be maintaining this rally. Again, Dogecoin is up 20% in the past 24 hours as of the time of this article&#8217;s writing. Related Reading: Here\u2019s Why Ethereum\u2019s DeFi Market May Be Near A Bottom Actually Interested in Bitcoin, Not Just Dogecoin? Musk expressed some interest in investing in Bitcoin around the time he made the aforementioned tweets about BTC and Dogecoin. Michael Saylor, CEO of MicroStrategy, said in response to the executive&#8217;s tweet about Bitcoin: &#8220;If you want to do your shareholders a $100 billion favor, convert the $TSLA balance sheet from USD to #BTC. Other firms on the S&amp;P 500 would follow your lead &amp; in time it would grow to become a $1 trillion favor.&#8221; Musk responded by asking if such transactions in Bitcoin are possible, pursuing the idea of making this conversion. He did not respond to Saylor, nor did he comment on Dogecoin further after this interaction. Related Reading: Tyler Winklevoss: A \u201cTsunami\u201d of Capital Is Coming For Bitcoin While Musk&#8217;s views on cryptocurrencies seem to be mixed at times, especially since he teases Dogecoin so often, he does think BTC has some value. He said earlier this year that BTC may have some value in a world where fiat monies are being constantly debased by central banks. Related Reading: 3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com Dogecoin (DOGE) Up 20% on the Day After Elon Musk Tweet<\/p>\n","protected":false},"author":497,"featured_media":448923,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1788,7,79599],"class_list":["post-452713","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-dogebtc","tag-dogecoin","tag-dogeusd"],"acf":[],"yoast_head":"\n<title>Dogecoin (DOGE) Up 20% on the Day After Elon Musk Tweet<\/title>\n<meta name=\"description\" content=\"Dogecoin (DOGE) is up 20% in the past 24 hours despite Bitcoin, Ethereum, and other segments of the crypto market correcting after a jaw-dropping rally.\" 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