{"id":4872,"date":"2022-01-15T05:06:55","date_gmt":"2022-01-15T05:06:55","guid":{"rendered":"http:\/\/egrowonline.com\/?p=4872"},"modified":"2022-01-15T05:06:55","modified_gmt":"2022-01-15T05:06:55","slug":"dogecoin-why-did-it-spike-why-did-the-value-rise","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=4872","title":{"rendered":"Dogecoin: Why did it spike? Why did the value rise?"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p id=\"LJHNxe\">Dogecoin jumped in value Friday after <a target=\"_blank\" href=\"https:\/\/twitter.com\/elonmusk\/status\/1481873421390680065?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1481873421390680065%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.cnbc.com%2F2022%2F01%2F14%2Fdogecoin-jumps-after-elon-musk-says-its-can-be-used-buy-tesla-merch.html\" rel=\"noopener\">Tesla CEO Elon Musk<\/a> said Dogecoin can be used to buy Tesla merchandise.<\/p>\n<p id=\"7xBKI2\"><strong>The news:<\/strong> <a target=\"_blank\" href=\"https:\/\/twitter.com\/elonmusk\/status\/1481873421390680065?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1481873421390680065%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.cnbc.com%2F2022%2F01%2F14%2Fdogecoin-jumps-after-elon-musk-says-its-can-be-used-buy-tesla-merch.html\" rel=\"noopener\">Musk said on Twitter<\/a> Friday morning that Tesla merchandise can be purchased with Dogecoin, the meme-based cryptocurrency that went viral in 2021.<\/p>\n<p id=\"hCX3qq\"><strong>What he said:<\/strong> \u201cTesla merch buyable with Dogecoin,\u201d Musk said.<\/p>\n<p id=\"oOvKnS\"><strong>What happened: <\/strong>Dogecoin jumped $0.20 at around 1 a.m. EST. The coin jumped 9% by 7 a.m. on Friday morning, too.<\/p>\n<p id=\"2OFMp3\"><strong>What you can buy:<\/strong> Per <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2022\/01\/14\/dogecoin-jumps-after-elon-musk-says-its-can-be-used-buy-tesla-merch.html\" rel=\"noopener\">CNBC<\/a>, there are already some details about what you can buy from Tesla.<\/p>\n<ul>\n<li id=\"9Lo6VY\">Tesla\u2019s Cybertruck whistle costs 300 dogecoins (so about $59).<\/li>\n<li id=\"xamPio\">Tesla\u2019s Gigafactory belt buckle costs 835 dogecoin (about $164).<\/li>\n<\/ul>\n<aside id=\"4pRt5h\">\n<\/aside>\n<p id=\"CaPzqN\"><strong>Flashback:<\/strong> Musk has made headlines about Dogecoin by praising the cryptocurrency. He once <a target=\"_blank\" href=\"https:\/\/twitter.com\/elonmusk\/status\/1392030108274159619\" rel=\"noopener\">released a poll<\/a> that asked <a target=\"_blank\" href=\"https:\/\/twitter.com\/elonmusk\/status\/1392030108274159619\" rel=\"noopener\">if Tesla should accept Dogecoin<\/a> for people to buy Tesla products. There were more than 3.9 million votes at the time it was released, with 78.2% saying \u201cYes.\u201d<\/p>\n<p id=\"N8AeSV\"><strong>Why this matters:<\/strong> Musk\u2019s tweets have often led to spikes in value for <a target=\"_blank\" href=\"https:\/\/www.deseret.com\/2021\/12\/14\/22833985\/dogecoin-spike-tesla-ceo-elon-musk-payment\" rel=\"noopener\">Dogecoin<\/a>. The meme-based cryptocurrency relies on social media hype and discussion to earn value, as I wrote for the <a target=\"_blank\" href=\"https:\/\/www.deseret.com\/2021\/12\/14\/22833985\/dogecoin-spike-tesla-ceo-elon-musk-payment\" rel=\"noopener\">Deseret News<\/a>. Musk\u2019s tweets are a huge part of that, as his tweets have often led to these jumps before.<\/p>\n<ul>\n<li id=\"mAJhay\">\u201cTweets from Musk and surging interest from a wave of amateur investors fueled a speculative frenzy in the cryptocurrency earlier this year, driving its price higher,\u201d per <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2021\/12\/14\/dogecoin-price-surges-after-elon-musk-tweet-about-tesla-merch.html\" rel=\"noopener\">CNBC.<\/a>\n<\/li>\n<\/ul>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.deseret.com\/2022\/1\/14\/22883586\/dogecoin-elon-musk-doge-cryptocurrency-crypto-token-tesla\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dogecoin jumped in value Friday after Tesla CEO Elon Musk said Dogecoin can be used to buy Tesla merchandise. The news: Musk said on Twitter Friday morning that Tesla merchandise can be purchased with Dogecoin, the meme-based cryptocurrency that went viral in 2021. What he said: \u201cTesla merch buyable with Dogecoin,\u201d Musk said. What happened: [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1778,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[46],"tags":[85,163,1760],"class_list":["post-4872","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-dogecoin","tag-rise","tag-spike"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2021\/12\/Dogecoin_6.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/4872","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4872"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/4872\/revisions"}],"predecessor-version":[{"id":4873,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/4872\/revisions\/4873"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/1778"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4872"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}