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Dogecoin Skyrocketed 8% After Elon Musk Referred It To As People’s Crypto

The meme-inspired crypto, Dogecoin (DOGE), made a strong move despite the strong consolidation of the broader cryptocurrency market. Learn more about Dogecoin and Shiba Inu News.

Dogecoin has always taken unexpected turns depending on Musk’s comments and activities. Similarly, this time, its price increased after Elon Musk talked about it in his recent tweet. He mentioned that most of the people who build rockets at SpaceX or produce Tesla own Doge. They don’t have any financial expertise, nor do they belong to Silicon Valley, he added.  This is why Musk referred to Doge as people’s crypto and insisted on his support on this coin.

In May 2021, Musk also said they would accept Dogecoin payments for the next space missions. According to a recent survey of Finder, the US has doubled the DOGE adoption rate compared to other countries worldwide. The report mentioned that 1/3rd of crypto investors in the US are buying DOGE, even more than BTC and ETH.

Shiba Inu News

The Dogecoin-inspired coin Shiba Inu SHIB recently made many headlines due to Musk’s recent remarks. A Twitter user asked Tesla CEO about how much SHIB he owns, to which he replied, “None.” After this event, the price of Shiba Inu plummeted 20%. However, it retracted quickly and is now close to hitting its ATH levels. At the time of writing, it is currently trading at $0.000038, according to coinmarketcap.


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