How One Tweet From Elon Musk Spiked A Cryptocurrency by 20%

And why Dogecoin?

Simon Spichak
Dec 28, 2020 · 3 min read
Image complication created by author | Musk image adapted from Steve Jurvetson from Menlo Park, USA, CC BY 2.0, via Wikimedia Commons | Doge Image by Petra Göschel from Pixabay

Bitcoin’s early success inspired innovators and imitators in the cryptocurrency space. This lead to a bloom of new types of crypto tokens. Amid the popularity, a meme-inspired coin was launched in 2013. Created as a joke based on the Doge meme, the Dogecoin now has a >$570 million market cap. One tweet on Sunday, December 20th, 2020…