Elon Musk, A.K.A “The Doge Father” among crypto investors, posted a tweet that caused a surge in the 24-hours trading price of “Baby Doge”, a coin created following Doge’s popularity.
The price of Baby Doge as of the 24-hour trading volume rose by 36.78% even when the market was bearish.
Meanwhile, Musk’s favorite meme coin Doge was trading at 1.6% higher than yesterday’s closing price.
The tweet made by the Tesla CEO was confusing in nature because preceding this tweet, Musk also tweeted a meme, captioned ” Release the Doge” which was considered to be a reference to his endorsed Dogecoin by his community.
The later tweet which says “Baby Doge, doo, doo, doo, doo, doo, Baby Doge, doo, doo, doo, doo, doo, Baby Doge, doo, doo, doo, doo, doo, Baby Doge”, was a mixed reaction because this could be a reference to Doge or coin named ‘Baby Doge’, but his fans went for the later which saw a great spike in the coin’s trading volume amid the bear market.
The Doge has already seen a surge this year which gave its investors more than 13000% return as profit within few months making few millionaires in the process. The subreddit of Dogecoin has also surpassed its 2M followers mark within few months holding a strong community of Doge lovers.
Anyways, as we all know, the tech typhoon loves to manipulate the market in his leisure time and will continue to do so.