Elon Musk is no stranger to market manipulation. The billionaire often uses his Twitter handle to cause interest in certain cryptocurrencies. That leads to a lot of shift in the market that is in his own favor.

The SpaceX CEO has outdone himself this time. Just by posting a mere emoji on Twitter, he’s boosted the interest of his followers into Dogecoin, a famous cryptocurrency once again.

As those interested in crypto would probably know, the height of interest in Dogecoin was around the time when Elon Musk hosted an episode of Saturday Night Live. After his appearance, Dogecoin started plummeting and has been on a downward spiral since.

“So… it’s finally come to this,” said a tweet he posted on Feb 7, 2021. Today, one year later, he tweeted out an LOL emoji in response to that tweet. That one move cause Dogecoin to move in ways it hadn’t in months, raising up one penny to $.17, a bigger move than it seems, because now Dogecoin seemingly has momentum once again.

Musk’s tweet led to a slow push upwards. Many outlined this in response to Elon Musk’s tweet, including Twitter user @realDogecoinOG, who claims to be the “world’s first and best real time Dogecoin analyst.”

The Tesla CEO then posted a meme regarding Dogecoin, which instantly helped fans make the connection between the previous tweet and the struggling cryptocurrency.

What’s your take on this story? Sound off in the comments!

Tags: Elon Musk
Nitish Vashishtha

Nitish Vashishtha is a freelance writer/news correspondent from India. He’s written content for companies like ScoopWhoop and Sportskeeda. He’s been writing about pop-culture, current affairs and pro-wrestling since 2017. While pursuing Master's in Mass Communication with a special interest in Advertising, his key areas of creativity lie in designing, content creation and creative storytelling as well as fictional writing. In his free time, he likes to create new riffs on his guitar, learning about whatever piques his interest, reading books ranging from philosophy to speculative sci-fi and enjoys watching anything HBO (Succession FTW).

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