A post by Elon Musk on X has stirred the cryptocurrency markets, leading to a sudden rise in Dogecoin and Bitcoin. Here’s the latest on his post and the market situation:
Cryptocurrency investors are closely watching recent statements from Donald Trump. Trump, who has once again announced his candidacy for the presidential elections scheduled for November 2024, has shown strong support for cryptocurrencies, which has fueled investor optimism. The involvement of billionaire businessman Elon Musk has had a significant impact on the markets.
Those familiar with the sector may have already heard that Trump recently hinted at including Elon Musk in his potential administration. Seizing the moment, Elon Musk made a noteworthy post on X, the microblogging platform he purchased for $44 billion. His emphasis on Dogecoin (DOGE) in the post caused a noticeable rise in cryptocurrency prices.
DOGE gains more than 5%
Dogecoin (DOGE) surged by more than 5% within hours following Elon Musk’s post on X, and is currently trading at $0.10540. Meanwhile, a similar trend is occurring with Bitcoin (BTC). Before Musk’s post, BTC was trading at $57,000, but it has now climbed to $60,830.
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