Elon Musk, the new boss of Twitter, has again made a crypto-realted headline that has shot up prices.
Musk tweeted a photo of a Shiba Inu dog dressed in a shirt with a Twitter logo and a pumpkin with a Twitter logo on Halloween day, accompanied by a wink emoji as a caption.
As expected, the prices of Musks' favourite crypto Dogecoin (DOGE) and Shiba Inu shot up.
DOGE shot up 14% within minutes following his tweet. However, the crypto shrank down to 12% at press time.
While Shiba Inu also showed a big uptrend but not as much as DOGE, it rallied by around 5% to create a local high of $0.00001032. However, Shiba Inu's uptrend also fell after the hype died down, and at press time, the pump was down to 4%. It was trading at $0.00001287.
Besides the tweet, the two cryptocurrencies were already hot as Musk had already hinted that DOGE would soon be incorporated with the Twitter platform.
Musk's latest tweet post comes after his completion of the acquisition of Twitter with $44 billion.
Musk has been a vocal supporter of DOGE for years now. He also believes that DOGE is better than bitcoin for executing daily crypto payments.
Musk's crypto-related tweets have always been market movers.
DOGE also previously shot up in May when Musk tweeted that in the near future, his space venture company SpaceX would introduce payments with DOGE.
Bloomberg media on Saturday suggested several ways that Musk, who is one of the most significant crypto influencers globally, might bring more cryptocurrency into Twitter.
According to Bloomberg, if Musk decided to play a bigger crypto role on Twitter, there are some ways he could do it.
Source : blockchain.news/news/musks-halloween-tweet-leads-to-doge-shib-uptrend undefined - November 01, 2022