The popular Dogecoin has seen a rise in price after a dog mascot unexpectedly attended the opening of a new manufacturing plant at the American electric car company Tesla. The Dogecoin Shiba Inu dog mascot appeared at a drone show at the beginning of a Texas gig factory called the Cyber Rodeo.
Within minutes of Dogecoin’s fantastic appearance on the Tesla drone display, the token price has risen. According to reports, DOGE increased 4.5% in the last 24 hours after a memecoin mascot’s unexpected function. Cryptocurrency, which traded at $0.141 yesterday, rose to $0.151.
The Dogecoin mascot feature in Tesla’s Cyber Rodeo may not come as a surprise to many. The owner of the American electric car company, Musk, has always been optimistic about Memecoin. The head of Tesla has repeatedly spread the token on his Twitter handle, which has led to an increase in the value of the asset class. Musk also took a step in support of DOGE, allowing Dogecoin to pay to buy Tesla cars.
Dogecoin Positive Journey – Elon Musk Influence
It is worth noting that the current week is favorable for Dogecoin. The first positive dynamics emerged after Elon Musk, CEO of Tesla, announced that it owns 9.2% of Twitter; The property is valued at approximately $2.88 billion. Musk is one of the most prominent proponents of cryptocurrency. His electric car firm Tesla traded more than $2 billion worth of BTC by the end of 2021. The firm also receives DOGE payments at the online merchandise store. This news boosted DOGE prices by 11% earlier in January.
While there is no direct link between Elon Musk and the Twitter deal with DOGE memecoin, the increase testifies to a close relationship. Dogecoin will rise much shorter if Musk uses Twitter to further popularize the coin, as it did, though this time, without the terrible fear of restriction. Dogecoin could soon break the $0.2 resistance if the buying momentum persists.
Musk has long supported the development and adoption of Dogecoin. Last spring, it was reported to work with dogecoin developers to improve system efficiency. This paid off, and Dogecoin increased its price by 22%.
Due to the instability of cryptocurrency, it is challenging to make preliminary predictions of what 2022 will be like for Dogecoin. However, the fact is that the current period is experiencing positive dynamics.
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