Elon Musk posted a caricature, Dogecoin virtual currency increased 248% in just 1 day

Elon Musk’s influence is extremely powerful.

In the past 24 hours, the Dogecoin virtual currency fever is sweeping across crypto exchanges around the world. After only 1 day, the price of Dogecoin has increased by 248%, from 0.1319 to $ 0.4347 / 1 coin. No one else, the person behind this quote is Elon Musk, the boss of Tesla, the second richest technology billionaire in the world.

Before Dogecoin had a bullish move, Elon Musk posted a tweet with the content “Doge Barking at the Moon”, along with a caricature by Spanish artist Joan. Composed by Miró. This move implies that Dogecoin will fly very high (strongly bullish) in the near future.

And like every other time, Elon Musk’s moves on social networks always create strong waves in financial markets, from stocks to cryptocurrencies. Earlier in early February, Elon Musk also helped Dogecoin increase more than 60% when posting content about it.

It is known that Dogecoin was created in 2013 by two software engineers, Billy Markus and Jackson Palmer. This Crypto is made based on the inspiration from the famous “Doge” meme with his face for the extremely funny Shiba Inu.

When it was first listed in 2013, the price of 1 Doge coin was only $0.000268. Thus far, the value of this coin has increased to 1622 times.

At the moment, Doge has cooled down a bit from the peak. 1 Doge coin is currently trading at $0.32. The market break-even value is 40.2 billion USD, ranking 7th in the list of the largest cryptocurrencies in the world.