Technical Analysis Elon Musk bitcoin tweet crypto rival Dogecoin cryptocurrency

A bitcoin rival, Elon Musk tweeted. It has risen by 20%

What began as a parody cryptocurrcy influenced by meme has now become the subject of a series of tweets in Elon Musk's bitcoin sound-off.

Some Bitcoin banter Sunday was tweeted by CEO Tesla (TSLA), like BS calling. He yelled in a tweet, "One Word: Doge." He shouted.

The tweet sent Dogecoin's share to almost 20% and placed it on the Twitter trend list. The tech milliardaire has also taken the title "Former CEO of Dogecoin." to update his Twitter bio.


The dominant cryptocurrency during the coronaviral pandemic, Musk Twitter antiquity has risen to an ever-high stage. Last week, the $20,000 mark in Bitcoin rose over, topping $24,000 – as investors' popularity continues to rise in their currency.

This is not the first time that Musk has tweeted Dogecoin, the bitcoin offspring. '

In a July tweeter, the CEO of SpaceX listed the digital coin with an image depicting the Dogecoin norm which envelop the financial system worldwide. The tweet sent shares at that time increased by 14 percent.

In 2014, Dogecoin was created as a parody for a popular Internet meme "doge" with a photograph of a Shiba Inu dog. Though it began as a joke, the virtual coin now holds nearly $570 million in market value.

Elon Musk Bitcoin Tweet, Technical Analysis and How Profiting from It