Elon Musk Juices Dogecoin with Tweet

Elon Musk is once again impacting crypto markets with a Tweet. Musk indicated that Tesla may be testing Dogecoin as an accepted currency for some “merch.”

 

Of course in the few hours following the Tweet, Doge has rocketed in value.  As of this writing, Dogecoin is up over 20% in a sea of red. Bitcoin continues to sink and Ethereum founders yet the mighty Doge has bucked today’s trend (so far).

Just yesterday, it was reported that Musk viewed Dogecoin as the best crypto for transactions. Musk reportedly invested Doge, along with Bitcoin and Ether. Musk said that while Bitcoin may be a good store of value, Dogecoin encourages people to spend. And now, Musk’s pronouncement is encouraging people to buy Dogecoin.

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