In response to Twitter’s latest tweet and Tesla CEO Elon Musk’s latest tweet, Dogecoin (DOGE) is seeing an impressive price rebound today. As the new CEO of the social media platform, the billionaire posted a picture of his Shiba Inu dog breed.
A few months after taking over Twitter, Elon Musk announced his intention to step down as CEO as soon as he finds a suitable replacement. With the photo, Elon Musk stated that the new CEO is far superior to the other guy, referring to Parag Agrawal. Ironically, revealing his dog as a replacement has been deemed a good move.
Dogecoin founder Shibetoshi Kusama commented on the tweet, saying the dog was the only one crazy enough to take the job. Musk even went on to provide hilarious confirmation that the new CEO is ideal for the job.
Following the tweet, the price of Dogecoin skyrocketed, which was unusual for Musk. According to CoinMarketCap data, the price of the crypto industry’s first meme coin is $0.08594, up 7.68% at the time of writing.
Today is a good day for meme coins
Elon Musk’s tweet is noteworthy, and it serves as a popular rallying point for all meme coins featuring the Shiba Inu dog breed. As a result, Shiba Inu (SHIB) gained 4.82% in response to the tweet and is currently trading at $0.00001296.
Floki Inu (FLOKI), after which Elon’s dog is named, is the biggest winner of the tweet, rising 33.2% to $0.00002838. It is not uncommon for the prices of these meme coins to skyrocket in response to Elon Musk’s prodding. What remains beyond the billionaire CEO’s control is the continuation of the rally.