Elon Musk’s attempts to raise the price of Dogecoin cryptocurrency are not effective

The price of Dogecoin jumped by about 5% and held for 23 seconds on Binance after Tesla CEO Elon Musk tweeted about the DOGE meme cryptocurrency.

In his previous tweet, Musk complained that those who use the word «billionaire» as a derogatory and offensive term are «stupid» and «morally unstable.»

After that, David Hochstein (a crypto enthusiast and former US congressional candidate) suggested that the word «trillionaire» sounds much better. Musk, in turn, jokingly suggested making a movie called Dogecoin Trillionaire. This joke has a historical basis, as last year Musk said in an interview that he would become a trillionaire thanks to DOGE.

As a result of the «pump» attempt, the price growth lasted less than a minute. It is worth noting that Musk’s previous attempt this week was more effective, but did not bring him closer to his cherished dream, as the coin’s rate stabilized rather quickly.