1 August 2026
Dogecoin soars by 50 Percent after Elon Musk’s Tweet
After a 46-hour break from Twitter, Tesla’s CEO Elon Musk just gave Dogecoin (DOGE) another price bump.
In an exclusive interview with TMZ- the media outlet, he spoke about Dogecoin and later went on Twitter to express his thoughts about this meme cryptocurrency.
Last week Dogecoin gained tremendous limelight and spiked around 900 to 1,000% after it began to get heavily shilled on Wall Street Bets, then corrected by over 65 % in the subsequent sell-off. It seems that Elon Musk is once again messing with the Dogecoin community and inducing extreme volatility in its price.
As per the market data of CryptoSlate, DOGE price has jumped by 50% in the past 24 hours, which made it the best performer in the top 100 by market capitalization. This event came into existence after the videos of Musk discussing Dogecoin and other cryptocurrencies went viral.
According to a TMZ video, Musk anticipates that cryptocurrencies are expected to go as per the world’s monetary systems. When requested to elaborate, he half-joked that Dogecoin could be at the centre of that, adding that “fate likes irony.”
Musk further elaborated that Dogecoin was formulated as a joke and a mockery of Bitcoin and other “real” cryptocurrencies. He also posted a photo that showed him holding up celebrities (Gene Simmons & Snoop Dogg) , and at the top was the Shiba Inu dog- the face of Doge.
As early DOGE buyers are up on their holdings, Michael Novogratz, CEO of Galaxy Digital, calls for some rationality. He thinks that “the $DOGE frenzy is gonna end poorly” because of “greed and gravity.” Novogratz added that “$DOGE doesn’t have a purpose,” which is a critique that many have brought up over recent weeks.
At the time of writing, Dogecoin ranked #10 by market cap, is up 27.25% over the past 24 hours with a market cap of $9.21B and a 24-hour volume of $14.22B
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