Tesla CEO Elon Musk’s most loved cryptocurrency is none other than Dogecoin. The billionaire entrepreneur has been tweeting, talking, and making statements about DOGE for over five years in a row. He single-handedly made the cryptocurrency market attract new and first-time investors worldwide with his tweets.
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His power in attracting investors made the markets rally in 2021 kick-starting a massive bull run. The majority of cryptocurrencies, including Bitcoin, Ethereum, Shiba Inu, and Dogecoin hit new all-time highs during this period. All this was possible due to Elon Musk relentlessly talking and tweeting about Dogecoin.
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Dogecoin: When Did Elon Musk Tweet About DOGE First?
Elon Musk first tweeted about Dogecoin on April 2, 2019. He tweeted, “Dogecoin might be my fav cryptocurrency. It’s pretty cool.” His tweets gathered only 11,800 likes to date as the cryptocurrency market lacked popularity back then. Not many were in favor of cryptocurrencies as the market was looked at with skepticism. Crypto education was not rampant and was seen as an obscure market before Musk’s tweet.
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Dogecoin was trading at $0.003 when Elon Musk first tweeted about it on April 2, 2019. Its market cap was only $300 million when the billionaire mentioned the meme currency on Twitter. He also announced that he purchased the meme coin and holds it in his portfolio, The meme currency gained a massive following after Elon Musk’s tweet made its price surge in the charts.
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It touched an all-time high of $0.73 in May 2021 but is now trading at $0.13 in July 2024. An investment of $1,000 in Dogecoin when Elon Musk tweeted in April 2019 could have fetched you 330,000 coins. When DOGE hit its ATH of $0.73, the $1,000 investment could have turned into $240,900. In today’s price, the $1,000 investment in Dogecoin in April 2019 is currently worth $42,900.