Elon Musk Labels Dogecoin As “My Fav Cryptocurrency”

Generation X superstar Elon Musk, quiet often takes onto Twitter to tickle a funny bone or two. In a recent attempt to lighten up, Mr. Musk once again proved to the world as to why he is one of the most coolest CEO’s out there! This was all triggered by a recent Twitter post, where Musk tweeted that perhaps dogecoin might be his favourite cryptocurrency! Now, the reality and the seriousness of this statement is unknown due to the fact that Dogecoin tweeted on April’s Fools day!

Dogecoin ran a poll on twitter seeking a new CEO, and (no surprsies here) Elon Musk came about with the most number of votes. The SpaceX founder lead the poll with 54% of the votes, followed by Marshall Hayner with 29 per cent. A total of 4366 people participated in the voting process.

Nevertheless, the timing could not have been better since dogecoin soared after the Musk’s announcement. The crypto soared over 30 per cent on the news while the rest of the crypto market turned green as well. The mysterious pump could have happened because someone initiated an order of $100 million across the three biggest exchanges at the same time.

Nevertheless, when looking back at previous happenings, Elon was in contact with dogecoin’s creator about seven months ago. He urged the team to help him fight against Twitter scam bots. It could be, that the relationship has grown and brought the two parts closer. While the crypto market gained some momentum, Dogecoin ranks the 24rd biggest cryptocurrency by market capitalisation. The coin is a decentralised cryptocurrency based on the popular “Doge” internet meme and featuring a Shiba Inu on its logo. It is a fork from Lightcoin, and its community uses the coin primarily as a tipping system on Reddit and Twitter to reward content creators.

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