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Elon Musk Reaffirms Support for Dogecoin, Changes Profile Picture — DOGE Trading Volumes Jumped 1,250% in Q2 – Altcoins Bitcoin News

Tesla and Spacex CEO Elon Musk has continued to tweet concerning the meme cryptocurrency dogecoin. He has modified his profile picture on Twitter to incorporate a picture of the Shiba Inu canine that represents dogecoin. He additionally tweeted that his son is “hodling his Doge like a champ.” In the meantime, dogecoin’s buying and selling volumes soared 1,250% within the second quarter on the world’s main cryptocurrency exchanges, in line with information by Coinbase.

Elon Musk’s Continued Assist for Dogecoin

The Doge neighborhood was thrilled over the weekend when many individuals observed that Elon Musk, whom they name the Dogefather, had modified his profile picture on Twitter to considered one of him carrying sun shades which have a Shiba Inu canine within the reflection.

Following his profile image change, the value of dogecoin obtained a slight increase however has since fallen down, shedding all of its weekend beneficial properties. The DOGE worth on the time of writing is $0.174 based mostly on information from Markets.

Elon Musk’s Twitter profile web page. Supply: Twitter

Previous to Musk updating his profile image on Twitter, he tweeted about dogecoin Saturday confirming that his child son, named “X Æ A-12,” just isn’t promoting his DOGE. Musk wrote:

Lil X is hodling his DOGE like a champ. Actually by no means stated the phrase ‘promote’ even as soon as.

Musk has beforehand stated he purchased dogecoin for his son “so he is usually a toddler hodler.” He additionally indicated that he owned DOGE himself however didn’t disclose how a lot, tweeting on Might 20, “I haven’t & received’t promote any doge.”

In the meantime, dogecoin’s buying and selling volumes had elevated quickly. Based on information compiled by Coinbase, as reported by the Insider:

Dogecoin’s buying and selling volumes soared 1,250% within the second quarter of the yr on the world’s main cryptocurrency exchanges.

Dogecoin’s common each day buying and selling quantity shot as much as $995 million within the April to June interval, from $74 million a day within the first quarter.

Compared, Coinbase’s information exhibits that ether’s buying and selling volumes rose 53% quarter-on-quarter to a mean of $3.25 billion a day on world exchanges. In the meantime, bitcoin’s each day volumes fell 14% to $4.01 billion.

What do you consider Elon Musk’s tweets about dogecoin and him altering his profile image? Tell us within the feedback part beneath.

Picture Credit: Shutterstock, Pixabay, Wiki Commons

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