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Tesla and Spacex CEO Elon Musk continued to tweet about the cryptocurrency dogecoin meme. He changed his profile picture on Twitter to include an image of the Shiba Inu dog which depicts the dogecoin. He also tweeted that his son “kept his Doge like a champion”. Meanwhile, dogecoin transaction volumes soared 1,250% in the second quarter on the world’s major cryptocurrency exchanges, according to data from Coinbase.
Elon Musk’s continued support for Dogecoin
The Doge community was thrilled over the weekend when many people noticed that Elon Musk, whom they call the Dogefather, had changed his profile picture on Twitter to one of him wearing sunglasses with a Shiba Inu dog in the reflection.
Following his profile photo change, the price of dogecoin rose slightly, but has since fallen, losing all of its weekend gains. The DOGE price at the time of writing is $ 0.174 based on data from Bitcoin.com Markets.
Before Musk updated his profile picture on Twitter, he tweeted about dogecoin on Saturday confirming that his baby, named ‘X Æ A-12’, was not selling his DOGE. Musk wrote:
Lil X holds his DOGE like a champion. Literally never said the word “sell” even once.
Musk has previously said he bought dogecoin for his son “so he could be a toddler.” He also indicated that he owned DOGE himself but did not disclose how many, tweeting on May 20, “I do not have and will not sell any doge.”
Meanwhile, dogecoin trading volumes had grown rapidly. According to data compiled by Coinbase, as reported by the Insider:
Dogecoin trading volumes soared 1,250% in the second quarter of the year on the world’s major cryptocurrency exchanges.
Dogecoin’s average daily trading volume reached $ 995 million from April to June, up from $ 74 million per day in the first quarter.
By comparison, data from Coinbase shows Ether trading volumes up 53% quarter-over-quarter to an average of $ 3.25 billion per day on global exchanges. Meanwhile, daily bitcoin volumes fell 14% to $ 4.01 billion.
What do you think of Elon Musk’s tweets about dogecoin and his change of profile picture? Let us know in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons
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