Elon Musk says Dogecoin 'literally' going on the Moon, the cryptocurrency jumps 25%

Tesla CEO Elon Musk on Wednesday sent prices for cryptocurrency Dogecoin soaring saying that meme currency was "literally" going to moon. Musk shared an image of Shiba Inu dog cl in a spacesuit, a meme that inspired cryptocurrency, standing on lunar surface holding a flag with text emblazoned on picture, saying 'wow'. SpaceX boss, furr, wrote in caption: 'on actual moon'. phrase, 'Going to moon', is renowned widely in tring markets to predict a jump in stock pricing. Since shared, currency's assets shot by 25 per cent Wednesday following Elon Musk's tweet at 8:00 AM ET. Dogecoin’s tring surged by 23.11 per cent to $0.0581 by 10:17 AM ET.

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Loss of $15 billion of net worth 

Musk, earlier, incurred a loss of more than $15 billion of net worth for his electric car company Tesla after he tweeted that prices of Bitcoin and smaller rival Er “do seem high”. Tesla’s stock market value toppled by 8.6 percent over weekend, costing SpaceX CEO his ‘world’s richest’ title as he slipped to world’s second-richest person with a total net worth of $183.4 billion, according to Bloomberg’s Billionaire Index. Jeff Bezos, meanwhile, regained number one position with a total net worth of $186.3 billion. Musk, who has been a staunch supporter of Dogecoin, has many times surged tring for alternative cryptocurrency Dogecoin via his tweets.

Earlier, as Tesla's chief tweeted that he bought " future currency for Earth" Dogecoin for his nine-month-old son, cryptocurrency's tring surged by 16 per cent. He h also fired a series of tweets in support of Doge, saying, "Dogecoin is people's crypto". Meanwhile, Musk's electric car firm Tesla h also announced last week, that it bought $1.5 billion in Bitcoin, ding that company will now start accepting bitcoin as payment for purchase of Tesla motors. In a Securities and Exchange Commission filing with DC office, electric cars manufacturer said that it was buying cryptocurrency for "more flexibility to furr diversify and maximize returns on our cash". Following announcement, bitcoin surged to a record price of $43,000. 

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