Elon Musk broke his brief Twitter fast on Thursday with a series of tweets in the morning that raised the price of a cryptocurrency created as a joke.
The meme-inspired Dogecoin rose around three-thirty in the morning after the billionaire head of Tesla fired a series of cheerful messages promoting it. Recently, it traded around 41 percent, about 4.6 cents after rising nearly 6 cents overnight, according to CoinDesk.
After sharing videos of a SpaceX rocket launch, Musk seemed to mock his ability to change the price of Dogecoin with one hand, which is named after an internet meme with a shiba inu dog. .
One of Musk’s tweets appeared an image with the photoshopped face in Rafiki of “The Lion King” lifting a baby Simba with the face of “doge”.
“We welcome you,” Musk wrote in the post, which he did just two days after announcing he would be off Twitter for an indefinite period.
“Off Twitter for a while,” Musk tweeted Tuesday after a lot of tweets that affected the market and affected not only the price of Bitcoin and Etsy, but also the medical device company Signal Advance, although his tweet seemed to refer to the Signal messaging application, not to the medical company of similar name.
Musk also helped raise Dogecoin last week tweeting a fake magazine cover for “Dogue,” a Vogue themed dog shipment. A cryptocurrency-focused Reddit forum took this as a signal that Musk supported his efforts to raise the price of the currency.
While it looks like some crypto traders are taking it seriously, Musk reportedly said this week that his Dogecoin posts “just want to be jokes.”
“Probably the most entertaining and ironic result would be for dogecoin to become the currency of the land in the future,” Musk told the Clubhouse audio chat app, according to Newsweek.