This weekend (March 13-14), Elon Musk, the world’s second richest person (according to the Forbes’ “The Real-Time Billionaires List“), has been acting quite dogematically.
Musk, who is a co-founder of PayPal, founder and CEO of SpaceX, and a co-founder and CEO of Tesla, decided to once again show his support for the internet’s favorite meme cryptocurrency Dogecoin (DOGE) during a weekend that saw the Bitcoin price register a new all-time high (on Bitstamp, the BTC price reached $61,781 at 20:42 on March 13).
It all started on Saturday (March 13) when Musk replied with an enthusiastic “Yes!” to a question by someone who asked on Twitter if Coinbase should enable trading support for DOGE.
Around 23:40 UTC on Saturday, Musk said that he was having a “Doge day afternoon” before proceeding to give a brief Dogecoin-flavored history lesson on the topic of “dog days of summer“.
By the way, in case you are wondering if the word “doge” has a meaning, during the medieval and renaissance periods, a was “was an elected lord and Chief of State in several Italian city-states.”
And then around ten minutes later, Musk hinted that he was very often why he was such a big fan of Dogecoin.
It’s worth pointing out that the Tesla CEO has been expressing his appreciation of Dogecoin since as early as April 2019. For example, here is what he said about Dogecoin back on 2 April 2019:
On Sunday, Musk mentioned, possibly jokingly, that he is going to get a Shiba Inu, which is a breed of hunting dog from Japan, as well as the official mascot for Dogecoin.
Around 03:00 UTC on Sunday, Twitter user @itsALLrisky, who is a Dogecoin fan, said that it is “only a matter of time” until Coinbase adds trading support for DOGE, to which Twitter user @leastImAlive replied that he would prefer to see Robinhood, which has been supporting Dogecoin trading since July 2018, to offer transfers out of crypto out of their platform, Musk said that this is one opportunity for Robinhood to “outdo” Coinbase.
As for Dogecoin’s price action this weekend, according to data by TradingView, on crypto exchange Bittrex, the price for Dogecoin, the 14th most valuable cryptoasset by market cap, reached $0.0630 at 03:59 UTC on March 14, i.e. five minutes after Musk tweeted about getting a Shiba Inu.
This is the highest price we have seen for Dogecoin since February 18. Currently (as of 18:40 UTC on March 14), Dogecoin is trading around $0.0600, which means that in the year-to-date period, DOGE-USD is up an incredible 1168.49%.
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.