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Elon Musk's Tweets Make Dogecoin Soar Again

| 14.1.22 |


The upload of the world's richest person Elon Musk on Twitter, has again boosted the price of the crypto asset Dogecoin. Through his tweet, Musk, who is the CEO of Tesla, announced that the crypto asset Dogecoin can be used as a means of payment for a number of merchandise for the largest electric car company. 

"Tesla merchandise can be purchased with Dogecoin," wrote Elon via his personal Twitter account. Not long after, the price of Dogecoin shot up 18 percent to the level of 0.2 US dollars, after the tweet was uploaded. Reporting from The Verge, a number of Tesla merchandise that can be purchased using Dogecoin are Cyberquad for Kids at a price of 2,320 US dollars or around 12,020 dogecoins, Giga Texas Belt Buckle for 161 US dollars or 835 dogecoins, and Cyberwhistle for 58 US dollars or 300 dogecoins.

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The plan to purchase Tesla merchandise using Dogecoin was actually announced in mid-December 2021. After the announcement was made, the price of Musk's "mainstream" crypto asset immediately shot up more than 20 percent. 

As is well known, Elon Musk is known to be vocal in expressing his views on crypto assets, ranging from bitcoin to dogecoin. The world's richest person often uploads jokes related to Dogecoin, which are usually responded to by the price movement of the crypto asset. 

Elon Musk's tweets are also considered to have contributed greatly to the movement of Dogecoin throughout 2021, which skyrocketed 4,000 percent on an annual basis.

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