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Dogecoin spikes 29% after Elon Musk tweets SpaceX will put the cryptocurrency on "literal moon"

Published by Business Insider on Thu, 01 Apr 2021

<p><img src="https://static4.businessinsider.com/image/60525f8bfe6a340019acf30c-2400/elon musk dogecoin pumping stocks 4x3.jpg" border="0" alt="elon musk dogecoin pumping stocks 4x3" data-mce-source="Yuriko Nakao/Getty Images; Britta Pedersen-Pool/Getty Images; Samantha Lee/Insider"></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><p>Dogecoin spiked as much as 29% on Thursday to its highest since mid-February after Elon Musk <a href="https://twitter.com/elonmusk/status/1377567762919292938">tweeted</a> about his space exploration company putting a "literal" version of&nbsp; the meme cryptocurrency on the moon.</p><p>At 6:25 am ET, the Tesla CEO and SpaceX published a<a href="https://www.businessinsider.com/elon-musk-spacex-dogecoin-moon-crypto-cryptocurrencies-2021-4"> tweet</a> to his 50 million followers saying "SpaceX is going to put a literal Dogecoin on the literal moon."</p><p><a href="https://markets.businessinsider.com/currencies/doge-usd'utm_source=markets&amp;utm_medium=ingest">Dogecoin</a> rose to a high of $0.70 on the Bittrex exchange, marking a 29% rise from the point at which Musk tweeted. It was last at $0.634 around 09:18 ET, up around 18% from that same time.</p><p>This isn't the first time the newly self-appointed "Technoking" of Tesla has tweeted about the token currency. The billionaire in <a href="https://markets.businessinsider.com/currencies/news/dogecoin-price-jumps-25-after-a-one-word-elon-musk-tweet-2021-2-1030119441">February</a> published a one-word tweet that sent dogecoin up by 25% in minutes.&nbsp;</p><p>Dogecoin, which started as a joke in 2013, has shot to fame thanks to well-known backers such as Musk, but also rapper Snoop Dogg and Kiss member Gene Simmons. For a short time, dogecoin boasted a market valuation of $10 billion, making it more valuable than a number of large <a href="https://markets.businessinsider.com/news/stocks/dogecoins-10-billion-valuation-bigger-than-well-known-companies-2021-2-1030061698'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest">companies.</a></p><p><a href="https://markets.businessinsider.com/currencies/news/dogecoin-price-elon-musk-tweet-spacex-cryptocurrency-literal-moon-2021-4-1030269297#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/pikes-peak-hill-climb-colorado-most-dangerous-racetrack-2020-2">Why Pikes Peak is the most dangerous racetrack in America</a></p>
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