Investing.com UK - Financial Markets Worldwide
💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Elon Musk Tells His Mother X Is A 'DOGE Friendly Place'

Published 23/08/2023, 09:11
© Reuters. Elon Musk Tells His Mother X Is A 'DOGE Friendly Place'
TSLA
-
DOGE/USD
-

Benzinga - Tech entrepreneur and owner of X (formerly Twitter), Elon Musk has once again endorsed the meme cryptocurrency Dogecoin (CRYPTO: DOGE).

What Happened: In a tweet on Wednesday responding to a post on X by Maye Musk, Elon said that “X,” is a DOGE friendly place.

"X is a dog & Doge friendly place!," he tweeted.

This sent DOGE to experience a 1.68% surge, trading at $0.063, in the last 24 hours.

Notably, Musk’s relationship with DOGE has been the subject of much speculation and market volatility.

See More: A Stay At The Floating Palace From James Bond's ‘Octopussy’

Why It Matters: Musk’s audacious endeavor aims to reshape X into a multifaceted service, incorporating features such as payment capabilities.

On Wednesday, Musk further fueled the excitement surrounding the transformation of Twitter into “X” by tweeting a logo created by DogeDesigner, which read "the everything app."

The Tesla CEO has expressed his desire to create an “everything app,” integrating social media, messaging, and financial transactions.

Last month, Musk’s tweet featuring the social media site’s new logo, originally designed by a DogeDesigner, led to a surge in the value of the original meme cryptocurrency. Additionally, Musk subtly demonstrated his affinity for DOGE by including its symbol in his Twitter bio.

Originally conceived as a joke by a group of engineers in 2013, dogecoin has since evolved into a prominent digital asset, ranking it as the eighth largest in the market.

Photo by Vitalii Stock on Shutterstock

Read Next: Bitcoin, Ethereum, Dogecoin Trade Mixed As Investors Await Jerome Powell’s Jackson Hole Speech: Analyst Predicts Dark Times Ahead For BTC, ETH

Join Benzinga’s Future of Digital Assets in NYC on Nov. 14, 2023 to stay updated on trends like AI, regulations, SEC actions & institutional adoption in the crypto space. Secure early bird discounted tickets now!

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.