DOGE to the Moon: Elon Musk relaunches the Dogecoin

Elon Musk has been talking about Dogecoin (DOGE), which has led to a slight increase in the price of memecoin. Interestingly, this time the new Twitter owner said “Dogecoin (DOGE) To The Moon” in his initial statement during a Twitter space on Saturday. In the Twitter space hosted by Mario Nawfal, founder of the International Blockchain Consulting Group, Musk made the comments. Meanwhile, the price of DOGE jumped slightly following the Tesla CEO’s comments.

DOGE on the moon

In addition to mentioning DOGE, Musk also talked about the security of crypto-assets and Sam Bankman-Fried’s interest in taking a stake in Twitter. Musk stated that the FTX founder “wanted to invest in Twitter but that he gave very bad vibes“. He also repeated the popular quote “If it’s not your key, it’s not your wallet”. Musk also stated that he was “working hard on the DOGE part.” Following Elon Musk’s comments on memecoin, the crypto-currency immediately jumped about 10%.

1/3 This morning I was listening in on a space hosted by @MarioNawfal and @elonmusk comes in and first thing he says is “Doge to the moon” 🤣😅 Anyway I’ve never done crypto but I wanted to understand what the recent hack was all about. #FTXhack

– Winnie Njuguna (@shikoWinnie) November 12, 2022

Winnie Njugunaa crypto enthusiast, who attended the space, said,

“This morning I was listening to a space hosted by Mario Nawfal and Elon Musk comes on and the first thing he says is ‘Doge to the moon’.

At the time of writing, the price of DOGE stands at $0.09182, up 4.06% over the past 24 hours, according to price tracking platform CoinMarketCap. However, the crypto bloodbath seen earlier in the week has had a major impact on all crypto-currencies. DOGE is still down about 28.51% over the past 7 days.

The Musk Factor

Following Elon Musk’s official takeover of Twitter, Dogecoin (DOGE) has seen a huge positive momentum. On various occasions in the past, Musk has vocally supported memecoin. Most recently, a Halloween tweet from Musk showed a Shiba Inu pet dog wearing a Twitter t-shirt. The community was optimistic about Musk’s acquisition and it was potentially a hint at the integration of dogecoin (DOGE) into the Twitter platform.