Elon Musk Pumps Dogecoin Again With Another Tweet

In a recent tweet, Tesla CEO, Elon Musk again mentioned his favourite Dogecoin in the context of DOJO, named after the Tesla supercomputer. Musk tweeting about DOGE, resulted in the price of the cryptocurrency to jump by almost 7 percent as per data from CoinMarketCap.

Musk Pumps Up DOGE Again

Elon Musk’s claims DOGE to be his favourite cryptocurrency. He occasionally tweets about it from time to time. On Feb. 22, Musk endorsed the meme-based cryptocurrency again by tweeting Dojo 4 Doge. Musk’s recent tweet on DOGE resulted in the price of the cryptocurrency to jump up from 0.0544 to 0.0597 while Bitcoin’s reaction to the tweet has been mild.

Musk has been consistently tweeting about the meme-based cryptocurrency for a while, leading to an all-time-high $0.065448, up about 35% from its 24-hour low of $0.048356 during early February. The cryptocurrency's price later dropped again before climbing back to about 25% gain. The Shiba Inu-themed digital coin had then surpassed 8 cents for the first time, just a week after crashing to 2.5 cents.

Even though, DOGE appears to be Musk's favorite coin with him tweeting on it from time to time, it is still not clear whether he actually owns any of these coins.

Dojo is Tesla's Supercomputer

Dojo is a Tesla supercomputer named after a traditional Japanese martial arts school. Musk-backed Tesla’s hardware team is further developing a neural network (NN) dubbed Dojo, to increase the learning speed of neural networks at the server-side. Dojo was first mentioned by Elon Musk in April 2019. Since then, neither Tesla nor Musk had mentioned anything about it.

Tesla’s Dojo supercomputer is part of the electric car manufacturing’s company’s eventual plan to allow cars to drive themselves using only a camera and radar. Dojo also has a role in the company’s plans to create a fleet of robotaxis. Previously, Musk had signaled that Dojo V1.0 will be released in about a year.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Elon Musk Pumps Dogecoin Again With Another Tweet

Jafrin Ahmed

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.