Dogecoin climbs after Elon Musk tweet

On Thursday, May 20, the price of Dogecoin rose by 21.1% after another tweet from Elon Musk mentioning the cryptocurrency.

The founder of Tesla posted on Twitter a post with a photograph of a dollar bill bearing the Dogecoin logo and the caption “Cyber Viking”.

How much is that Doge in the window? pic.twitter.com/bxTkWOr50V

— Elon Musk (@elonmusk) May 20, 2021

“How much is that Doge in the window?”, Musk asked.

In response, some users expressed their discontent; others said that supposedly “everyone lost” due to the businessman. On May 17, angry Musk followersissued the token Fuck Elon Tweet(FUCKELON).

At the time of writing, Dogecoin was trading at around $0.41. The project’s market capitalisation approached $60 billion — it ranked seventh on CoinMarketCap.

Earlier, Musk said that Dogecoin could“without effort” beat Bitcoin. Previously, the team behind the meme cryptocurrency said thathas been working with the businessman since 2019.

Back in May 2021, Musk criticised Bitcoin for centralisation and threatened to bet everything on Dogecoin.