It’s a well-known fact in the cryptocurrency sector that when Elon Musk tweets about Dogecoin, the value gets increased. And it once again occurred today. 
<h2>Dogecoin’s Value Increased Following Elon Musk’s Tweet</h2>
The popular UberFacts Twitter account, which has over 13 million followers, <a href="https://twitter.com/UberFacts/status/1451593139358244907" target="_blank" rel="nofollow noopener">wrote</a> on Friday afternoon, “Elon Musk is predicted to become the world's first trillionaire, thanks to SpaceX.”

The <a href="https://www.cryptoknowmics.com/news/spacex-accepts-dogecoin-as-payment-ahead-of-moon-mission/">SpaceX</a> and Tesla CEO <a href="https://twitter.com/elonmusk/status/1451623475978833927" target="_blank" rel="nofollow noopener">responded</a>, "*In Dogecoin," spotting yet another opportunity to bring up one of his favorite meme themes. 

Musk, who has more than 61 million Twitter followers, has had tens of thousands of interactions in less than an hour, as of this writing.

[embed]https://twitter.com/UberFacts/status/1451593139358244907[/embed]
<h2>This Has Occurred Several Times In The Past</h2>
The market reacted immediately to Musk’s tweet, as we’ve seen many times before, with DOGE’s price <a href="https://www.coingecko.com/en/coins/dogecoin" target="_blank" rel="nofollow noopener">increasing </a>by around 5% in less than an hour, according to CoinGecko. 

The price of the main meme coin is now hovering at $0.25, and the coin is up 7% in the previous seven days, and roughly 25% in the last month. 

Musk has long been a lover and supporter of Dogecoin and has frequently tweeted about it in the form of memes and jokes.

He <a href="https://twitter.com/elonmusk/status/1387290679794089986" target="_blank" rel="nofollow noopener">calls </a>himself "The Dogefather," and he even mentioned DOGE on "Saturday Night Live" in May. Musk even considered selling a Dogecoin-inspired NFT collectible but changed his mind.

Musk is also <a href="https://www.cryptoknowmics.com/news/david-gokhshtein-says-dogecoin-doge-allows-people-to-get-into-bitcoin/">collaborating</a> with Dogecoin developers to upgrade the cryptocurrency and make it a more affordable and energy-efficient alternative to Bitcoin.

In May, the crypto market experienced a summer-long fall when Tesla stated that it would no longer deal in Bitcoin owing to the environmental effect of mining.

After Elon Musk's "Trillionaire" Tweet, the Value of Dogecoin Increased

It’s a well-known fact in the cryptocurrency sector that when Elon Musk tweets about Dogecoin, the value gets increased. And it once again occurred today. 

Kavya Barua is a voracious learner who is fascinated by crypto and Fintech advancements. Graduated from Janki Devi Memorial College's B.A (Hons) English program at the University of Delhi. She aspires to be a successful professional, having a keen interest in learning and achieving results.

After Elon Musk's "Trillionaire" Tweet, the Value of Dogecoin Increased

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