Elon Musk relaunches Dogecoin once again

Elon Musk talked about Dogecoin (DOGE), which led to a slight rise in the price of memecoin. Interestingly, this time around, the new owner of Twitter said, “Dogecoin (DOGE) To The Moonin his initial statement during a Twitter space on Saturday. In the Twitter space moderated by Mario Nawfal, founder of the International Blockchain Consulting Group, Musk made the comments. Meanwhile, DOGE’s price jumped slightly on comments from Tesla’s CEO.

DOGE on the moon

Along with the mention of DOGE, Musk also talked about the security of crypto-assets and Sam Bankman-Fried’s interest in taking a stake in Twitter. Musk said the FTX founder “wanted to invest in Twitter but it gave really bad vibes“. He also echoed the popular quote “If it’s not your key, it’s not your wallet”. Musk also said he was “working hard on the DOGE part.” Following Elon Musk’s comments on the memecoin, the cryptocurrency immediately jumped around 10%.

Winnie Njugunaa crypto enthusiast, who attended the space, said,

“This morning I was listening to a space hosted by Mario Nawfal and Elon Musk come up and the first thing it says is ‘Doge to the moon'”.

As of this writing, the price of DOGE stands at $0.09182, up 4.06% in the past 24 hours, according to price-tracking platform CoinMarketCap. However, the crypto bloodbath seen earlier in the week had a major impact on all cryptocurrencies. DOGE is still down around 28.51% in the last 7 days.

The Musk Factor

Following the official takeover of Twitter by Elon Musk, Dogecoin (DOGE) saw huge positive momentum. On various occasions in the past, Musk has vocally supported memecoin. Very recently, a Halloween tweet from Musk showed a Shiba Inu pet dog wearing a Twitter t-shirt. The community was optimistic about the acquisition of Musk and it was potentially a hint of the integration of dogecoin (DOGE) into the Twitter platform.

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