Dogecoin rallied on Thursday after Elon Musk committed that he would send the meme cryptocurrency to the moon — literally.
The billionaire entrepreneur tweeted that SpaceX, a space technology company he owns, would take a “literal Dogecoin to the literal moon.” The cryptic message ignored to dwell into the hows and whys, but it was strong enough to send a bullish signal across the Dogecoin market. As a result, the DOGE/USD price exploded.
As of 0800 UTC, the pair was trading at $0.071, up 33.94 percent from its intraday opening rate. It looked obvious that traders played a prank of themselves by blowing Mr. Musk’s tweet out of proportion, given it arrived on April Fools’ day.
<img data-lazyloaded="1" src="https://alltopcash.com/wp-content/uploads/2021/04/8Hgu64EP-860×498-1.png" loading="lazy" class="size-large wp-image-460191" alt="Dogecoin price rallies on April Fool's Day. Source: DOGEUSD on TradingView.com" width="860" height="498" data-sizes="(max-width: 860px) 100vw, 860px" srcset="https://alltopcash.com/wp-content/uploads/2021/04/8Hgu64EP-860×498-1.png 860w, https://alltopcash.com/wp-content/uploads/2021/04/8Hgu64EP-460×266-1.png 460w, https://alltopcash.com/wp-content/uploads/2021/04/8Hgu64EP-768×444-1.png 768w, https://alltopcash.com/wp-content/uploads/2021/04/8Hgu64EP-1536×889-1.png 1536w, https://alltopcash.com/wp-content/uploads/2021/04/8Hgu64EP-2048×1185-1.png 2048w, https://alltopcash.com/wp-content/uploads/2021/04/8Hgu64EP-750×434-1.png