Elon Musk’s New Dogecoin Tweet May Increase the Crypto Price by 50%

A tweet by Elon Musk leads the public to anticipate the increase in the Crypto price by up to 50%. The study of the tweet has been reported by theDial.co A single tweet might not have led to such excitements if not for the tweet of Elon Musk, who is known to influence the global market just by his tweets.

So now that he has replied to his own previous tweet of July 2020. The last time he tweeted, the currency was doubled, and it is predicted to increase even more with its price increasing every day or rather every hour. While the Dogecoin currency is increasing day by day, Bitcoin, which is still the top-rated Crypto, has undergone a 4% reduction in its price.

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The power of something so simple shows how quickly cryptocurrency can change, and why investors and those who accept it should stay well-informed at all times. If your business takes payment in Dogecoin or any other cryptocurrency, it’s important to run a regular break-even analysis to make sure you’re still making money.

The growth rate of Dogecoin

With a 100% increase in just two days, Dogecoin is now experiencing a drastic leap. It has increased to $0.3 just within an hour after the tweet. It has been predicted to grow even more. Its smaller value makes it accessible to the market, but it has still exceeded $44.3 billion. It is predicted that the individual value would increase by 50% over the day. The tweet mentioned May 8 to be the time when the Crypto price will be huge.

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Further prediction

Musk has been joking around about his coins pretty much over the last seven years. In February itself, he had predicted an increase of 68% in the currency. Let us see if the recent increases play off their sides and create a blast again.

Though Cryptocurrency is yet to be identified and used in several places of the world, it is still a matter receiving extreme hype and has become a matter to be concerned about. It is said so because Crypto might be the world’s future and might one day take over the regular money that we use. So, it is crucial to keep an eye on the daily reports of every day to see what the currency holds itself towards and what the owner companies have in the plan while using and making of the currency.

About Camelia Bhattacharyya 208 Articles
Camelia is an intern for PanAsiaBiz studying at the Amity University, Kolkata [B. Tech (biotechnology)]. She is fond of writing on Science, Health, and Biotechnology topics.