Cryptocurrency Dogecoin grew by 4% after Elon Musk’s tweet

The value of the Dogecoin cryptocurrency rose by 4% after Tesla CEO Elon Musk posted on Twitter. This is thanks to one phrase of the billionaire, regarding the love of his son X AE A-XII (the name of Musk’s descendant) for DOGE. The billionaire wrote about this after publishing a photo with X AE A-XII, who, according to users, looks very similar to his father.

X ❤️ Doges

— Elon Musk (@elonmusk) August 1, 2022

It seems that Tesla’s CEO is trying to help his favorite cryptocurrency «stay afloat». Recently, most cryptocurrency analysts reported that the Dogecoin token is doomed to fail.

According to a survey by Finder, 55% of 54 analysts are convinced that DOGE has no future. Respondents who are negative about the meme cryptocurrency predicted a drop in the token’s value in the near future: 3% of respondents said that DOGE will crash in the next 12 months, 12% - in 2023, 9% - in 2024, and 30% - in 2025. At the time of writing, Dogecoin is trading at $ 0.06.