Elon Musk shares image that 'sums up his childhood'; Dogecoin prices soar over 30%

SpaceX and Tesla CEO Elon Musk took to his official Twitter handle to share what he described as a photograph that 'summed up his childhood’. The image featured a Shiba Inu dog that represents the cryptocurrency DogeCoin. The billionaire boss has been a longstanding supporter of the meme-based token. Musk wrote, “Discovered this pic of me as a toddler.”  Shortly, the Tesla (TSLA) CEO roiled the cryptocurrency market value as Dogecoin soared over 30 percent and was up over 14 percent on Thursday. Also dubbed as The Dogefather, Musk shared what appeared to be a picture set in the 80s with the mascot, infamous cute, furry dog Cheems standing in front of his computer, audio tape cassettes, books on graphic designing, fax machine and many other hardware gadgets typical of the 80s era. 

With the picture, the 48-year-old entrepreneur revealed the tech nerd aspect of his childhood personality. The image was emblazoned with a caption: "I have to keep my passion hidden from the public, or I'd be socially ostracised." The audience was quick to point out that the prices of the chess game featured on the screen of the computer's monitor were about to soar as a result of Elon Musk's tweet. Tesla CEO has been known to tweet out cheeky jokes and memes, which from time to time fluctuates the cryptocurrency market trends. While Musk's recent tweet is just another in his long list of pro-DOGE memes, his recent tweet opened the meme token for starting around 12 pm Thursday. 

Trading of Dogecoin starts on Coinbase

Coinbase announced in a blog post-Thursday that the currency holders could now transfer DOGE into their Coinbase Pro account ahead of trading. It added, that the trading of DOGE will begin on or after 9 am Pacific Time (PT) Thursday June 3, if liquidity conditions are met. DogeCoin, the joke crypto, boasts a market capitalization of more than $54 billion, and interestingly was solely created to make fun of other cryptocurrencies. The digital token soared more than 2,300 percent from 3 cents in late 2020, soaring by 73 cents in early May, in a phenomenon that Elon Musk describes "to the moon." Dogecoin, contrary to Bitcoin, is intentionally abundant and nearly 10,000 new coins are mined every minute and there is no maximum supply, according to Coinbase.