Elon Musk is stirring up the Dogecoin (CCC:DOGE-USD) crowd yet again. The self-proclaimed Leif Erikson of the internet is rallying his fellow “cybervikings” around the meme coin. The result is a push for a full dollar DOGE price through the #DOGE1 hashtag.
Musk hopped on Twitter this morning to presumably post whilst watching the sun rise. At 6:41 a.m. Eastern, the SpaceX founder sent out a short message: “How much is that Doge in the window?”
Accompanying the clever wording is a picture. A purple neon sign bearing the word “Cybervikings,” and a barely visible $1 bill on a laptop. “Cybervikings” is a phrase that Musk has used to refer to himself and his followers before. Zooming in on the photo reveals a Shiba Inu in the place of George Washington, an obvious reference toward Dogecoin’s Shiba logo.
Elon Musk Tweet Spawns #DOGE1 Campaign
Musk has silently declared his price point for DOGE; he wants to see it hit that dollar mark. And he’s not alone, as legions of DOGE fans are now talking about it. The tweet has catalyzed the #DOGE1 hashtag, a rallying cry for the price point, and to the pleasant surprise of Musk, free advertising for his space-exploration company’s DOGE-1 satellite.
How much is that Doge in the window? pic.twitter.com/bxTkWOr50V
— Elon Musk (@elonmusk) May 20, 2021
The tweet comes at a time right after some big losses for the meme crypto. And, it’s doing well to undo the damage. In fact, the seven-day percentage moved briefly into the green for the first time in a few days this morning, thanks in part to Musk’s supportive message. The crypto is currently up by 22% on the day’s trading session, changing hands at 42 cents.
While Musk has been a longtime fan of DOGE, a recent rumor is making the context behind these pro-DOGE tweets very interesting. A YouTuber recently theorized that Musk’s Tesla (NASDAQ:TSLA) is behind a $1.5 billion purchase of Dogecoin. Nothing is confirmed, but investors are taking interest to the unclaimed purchase. Many are speculating over whether or not Musk will reveal his EV-manufacturing company as the buyer.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.