If you see dogecoin price surging yet again on cryptocurrency exchanges, social media, and the news, that’s because Tesla CEO Elon Musk has been propping the meme coin on Twitter again. Musk has had a massive influence on doge, which rose spectacularly from less than 5 cents a few months ago to nearly 70 cents last week. The coin then fell sharply just as Musk hosted Saturday Night Live, a show where he made various references to the meme coin and continued to drop in the past few days alongside bitcoin and most of the market.
The same Musk surprised fans last week when he said that Tesla would no longer accept bitcoin payments for electric cars, as bitcoin isn’t energy efficient. The announcement came just as abruptly as the news that Tesla would accept bitcoin payments for vehicles less than two months ago. Musk is back on the doge bandwagon, revealing on Twitter that he’s working on making this particular coin more efficient.
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Elon Musk says he’s working with dogecoin to improve transaction efficiency originally appeared on BGR.com on Sun, 16 May 2021 at 10:34:44 EDT. Please see our terms for use of feeds.
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