Dogecoin Rises 20% As Elon Musk Predicted $1 per Coin

The Dogecoin prices rose by 20% within minutes after Elon Musk has just returned to Twitter to discuss DOGE, posting an image of a $1 bill with a Shiba-Inu dog on it, implying that this is his prediction for the meme-price coins. 

How much is that Doge in the window? pic.twitter.com/bxTkWOr50V

— Elon Musk (@elonmusk) May 20, 2021

DOGE followers have long expected that it would reach a price of $1 per dogecoin. which was created in 2013 to ridicule Bitcoin and other cryptocurrencies.

Elon Musk Predicted $1 Per Dogecoin

The image in the tweet is a reference to Marcus Sloss’s Cyber Viking book series. The stories revolve around Saudi war veteran Eric Yang, who is preparing to save the Earth from an alien invasion. 

When Musk refers to Doge as the “people’s money,” it’s easy to believe that the eccentric billionaire is once again promoting DOGE as the commodity that will “save the planet” without the world understanding it.

For a long time, Tesla’s CEO, Elon Musk is proudly supporting Shiba Inu-inspired coin. Since he is such a powerful figure with millions of fans, his comments spread to other celebrities, and the snowball effect began.

It’s worth noting that less than two weeks ago, Dogecoin was around $0.25 away from meeting its $1 mark. At the time, DOGE had surpassed BNB to become the fourth-largest cryptocurrency by market capitalization.

Many Dogecoin supporters have long predicted that the cryptocurrency, which was developed in 2013 in part to mock bitcoin and other cryptocurrencies, will eventually hit a $1 per Dogecoin mark.  This year, the price of Dogecoin has increased dramatically, cheers to social media influencers collaborating up with high-profile investors to promote it.

What Future Does DOGE Hold?

The Tesla CEO has been a long-time supporter of DOGE. He often tweets about DOGE, driving the coin’s price to unprecedented levels. Many believe Tesla’s CEO is manipulating the Doge and Bitcoin prices after recently sending BTC into a tailspin by tweeting that it is a “dirty coin.”

Despite a 50% drop since the ATH in early May, DOGE is still well ahead year to date. Dogecoin’s current price of $0.4 represents a gain of more than 6,500 % since the beginning of 2021.