Elon Musk is driving the price of dogecoin up by 5% again, here’s how

Elon Musk, CEO of Tesla, made the price of dogecoin (DOGE) jump more than 5% in a few hours on Sunday night to Monday

Elon Musk, a fan of Dogecoin, managed to influence the price of DOGE with a simple tweet saying he was talking about Dogecoin with Fox News chief Rupert Murdoch during the Super Bowl on Sunday. The community praised the gesture.

Elon Musk boosts dogecoin price by 5 percent

Two business moguls, Elon Musk and Rupert Murdock, were seen sitting together at the NFL Super Bowl LVII game between the Kansas City Chiefs and the Philadelphia Eagles. Musk and Murdock sitting and talking at the event is already generating reactions, with many speculating on what they were discussing.

Elon Musk, known for greatly influencing the price of Dogecoin, has once again proven his influence on Dogecoin. The price of DOGE suddenly jumped more than 5 percent after Musk responded to a tweet indicating that he was talking about “Dogecoin” with Rupert Murdock during the Super Bowl.

Elon Musk responded to a tweet from Grit Capital CEO Genevieve Roch-Decter asking users to give wrong answers about what Elon Musk and Fox News owner Rupert Murdoch are talking about at the Super Bowl.

Elon Musk is sitting next to Fox News owner Rupert Murdoch at the SuperBowl.

What are they talking about?

Wrong answers only. pic.twitter.com/rUGXQGTm2P

Genevieve Roch-Decter, CFA (@GRDecter) February 13, 2023

Elon Musk casually wore his Dogecoin T-shirt at the Super Bowl. This shows his commitment and support for the currency meme.

The price of DOGE is currently trading at $0.08399, with trading volume jumping more than 200%. The price hit a 24-hour high of $0.0862 after Musk’s response.

The Dogecoin community is actively awaiting Elon Musk’s announcement on integrating the meme currency with Twitter payments. Recently, Twitter began applying for regulatory licenses across the U.S. and designing the software needed to introduce payments to the social media platform.