Elon Musk Effect On Dogecoin: On The Rise

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Elon Musk effect has experienced another increase, Dogecoin, whose name we have heard frequently in recent months, was created in late 2013 for joke. Dogecoin, which received support from serial entrepreneur Elon Musk earlier this year, experienced another leap forward. DOGE price mostly changes with Elon Musk statements. Thanks to Elon Musk effect, there was another increase at night.

Currently, Dogecoin’s supply in the market is 129.5 billion DOGE. Its market value is around 91 billion dollars. When we look at the price of DOGE in terms of dollars, Twitter is talking about “Will Dogecoin be 1 dollar?” We see that his totem is quite close. 1 DOGE currently corresponds to $ 0.7.

Why did the DOGE price jump?

Elon Musk statements are usually behind the jump in Dogecoin price. This time the situation is the same. Elon Musk will be in a skit about cryptocurrencies by participating in Saturday Night Life, one of America’s popular shows. The fact that the content Musk will participate in is about cryptocurrencies naturally caused the rise in Dogecoin.

In the coming days, Elon Musk statements will be important for Dogecoin. Because it is very clear that the biggest source of this crypto money, which is primarily a joke, is Elon Musk.

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