Elon Musk Sends Dogecoin Shooting Higher With Single Tweet: ‘High Time I Confessed’

Elon Muskhas once again demonstrated his ability to putDogecoin DOGE/USD in the green with a single tweet.

What Happened: In a tweet on Wednesday, Musk revealed that he 'let the Doge out,' referring to meme coin DOGE.

High time I confessed I let the Doge out pic.twitter.com/TAi4p1khAd Elon Musk (@elonmusk) February 22, 2023

At the time of writing, DOGE was up 4.7% in the last 24 hours.

See More: Top Indian Apps That Give Bitcoin, NFT Rewards

On Wednesday night, DOGE was down 3%, trading at $0.082, until a tweet from Musk made the price spike to $0.087.

Shiba Inu SHIB/USD also posted gains of 1.51% that can be attributed to Musks tweet.

Last week, Musk shared a photo of his dog wearing an iconic Silicon Valley-style black turtleneck while seated authoritatively in a large armchair behind a desk. Musks comment, The new CEO of Twitter is amazing, was enough to push up the prices of canine-themed cryptocurrencies.

Read Next: Bitcoin, Ethereum, Dogecoin Slide Amid Rate-Hike Anxiety: Analyst Says 'Avoid Emotions, Trade Prices'