Dogecoin grew by 6% per day thanks to Elon Musk’s photo

The value of the Dogecoin meme cryptocurrency has once again risen thanks to the actions of billionaire and longtime token supporter Elon Musk. This time, the eccentric Twitter owner posted an image of a Shiba Inu dog that allegedly solves the social network’s problems. The dog’s T-shirt reads «CEO» — the highest executive position in the company.

The new CEO of Twitter is amazing pic.twitter.com/yBqWFUDIQH

— Elon Musk (@elonmusk) February 15, 2023

Thanks to several photos of the animal, DOGE $0.31 Department Of Government Efficiency 2.23% Market capitalization $0.31 billion VOL. 24 hours $1.52 billion rose by 5.7% overnight. «Twitter's new CEO is incredible! He’s good with numbers! And he has a cool style!» Musk described the published photos.

And has 🔥🔥 style pic.twitter.com/9rcEtu9w1Z

— Elon Musk (@elonmusk) February 15, 2023

Interestingly, a day earlier, a photo of a businessman wearing a shiba-inu T-shirt did not affect the Dogecoin rate. Musk came to the Super Bowl wearing clothes with the DOGE symbol on them, but cryptocurrency market participants were not interested in this.

Elon Musk wore $DOGE t-shirt at the #SuperBowl

He never misses a chance to shill #Dogecoin 🚀#DogecoinToTheMoon pic.twitter.com/VFyRcwYl2Z

— EvanLuthra.eth (@EvanLuthra) February 13, 2023

Some users took the photo of a dog with Twitter symbols as a hint that cryptocurrency payments will be introduced to the social network in the near future. Currently, the Twitter team is working on developing the architecture to launch payments on the platform. Although the payment technology will primarily focus on fiat transactions, it will be built in such a way that crypto functions can be added in the future.