Dogecoin (DOGE) has been the talk of the crypto town in the month of April. On the first day of the month, it was trading in its usual $0.05 range. On April Fools’ day, Tesla (NASDAQ:TSLA) CEO Elon Musk tweeted about the coin yet again. His tweet read, “SpaceX is going to put a literal Dogecoin on the literal moon” — SpaceX being the aerospace company that Musk also founded. Although the tweet was intended as a joke, it set the Shiba Inu-themed meme token on a rally like no other.
Within two hours, the price rose by more than 35% to a peak of $0.07 before cooling off temporarily but still holding on to its gains. The next spike in price came on April 14, with the value of a single token doubling within a single day to break the $0.10 mark. This led Musk to again turn his attention toward the coin, tweeting a picture of the famous painting by Spanish artist Joan Miró, saying “Doge barking at the moon.” This tweet, along with the rising social sentiment, pushed the price to a high of $0.45 on April 16.
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