A tweet from Elon Musk pushes dogecoin price up by more than 110%

Dogecoin is back in the breach after being silent for quite some time. This aggressive movement by DOGE is due to the tweet posted by Elon Musk. The post is all about the photoshopped version of The Lion King which showed Elon Musk, Gene Simmons and Snoop Dogg raising a dog, dogecoin. This tweet published by Elon recently, was first posted on Twitter on February 7, 2021. The tweet garnered various emotions across the Twitter community, and most of them were all positive comments. It was retweeted at nearly 90K with likes of over 700k continuing to increase over time. So, We can say that the DOGE army is now awake and on fire more than ever.

In terms of market status, the DOGE price continues to rise with a year-over-year growth rate of + 110%. DOGE's market capitalization amounts to over $ 22 billion with a trading volume of over $ 1.4 billion in the past 24 hours. This aggressive market performance of the cryptocurrency made it one of the top fifteen cryptocurrencies in CoinGecko. In addition to the tweet post, Elon also opened Tesla's doors to DOGE as a payment method for some of his products in the company. This news has created a craze among the DOGE community. As a result, the price of DOGE was pumped up. Meanwhile, Elon's eternal support for DOGE in good times and bad times too has made him known as the father DOGE.