In a day that saw a rebound in the price of Dogecoin, from a low of $0.04412665 back to $0.059914, Elon Musk proved he is back on the Doge bandwagon.
To be clear, the rebound of Dogecoin came early in the morning before Musk ever made a tweet. But the CEO of Tesla and SpaceX got Doge fans excited when he first changed his profile too.
“Doge all day, Doge all night”
He later tweeted out this picture, which we just recently used in an article.
On the actual moon
— Elon Musk (@elonmusk) February 24, 2021
A fan then asked him why he loves Dogecoin so much.
“Why do u love $DOGE so much lol?”
He responded.
“I love dogs & memes”
I love dogs & memes
— Elon Musk (@elonmusk) February 24, 2021
You can see the Elon effect on the Dogecoin market as his tweet came around 8 am ET, hours after the Dogecoin rally began.
There was some concern last week that Musk might no longer be on board with Dogecoin due to its over-concentration of coin in a few ‘Whale Wallets .’ It was later revealed that a lot of those wallets we holding wallets for some of the biggest crypto exchanges and not individuals.
But judging from his Tweets, it looks like Musk is still a fan of Dogecoin.
