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Elon Musk, the famous billionaire and one of the biggest supporters of Dogecoin (DOGE), caused a more than 5% increase in DOGE with a single move. Musk added the symbol of Dogecoin along with the new symbol of the social media network X to the location section of his Twitter profile.
Change in his Profile Boosts Dogecoin Price
Musk, known for his attention-grabbing moves that sometimes cause a surge in Dogecoin, made another one. He added the symbol of Dogecoin along with the new symbol of the social media network X to the location section of his Twitter profile. This move by Musk led to an increase in DOGE. The largest memecoin, which was trading around $0.71, rose over 5% to reach $0.78 after the noteworthy change in Musk’s profile information.
The timing of this change in Musk’s profile, which came during the transition period of Twitter turning everything into the X application and announcing that it will change the logo and name of Twitter to X and its new address will be X.com, excited Dogecoin investors. Investors started to speculate that DOGE will be among the currencies to be used in trading on X.
In a tweet during the process of acquiring Twitter, which caused a great deal of controversy and even legal action at one point, Musk used the phrase “Acquiring Twitter is accelerating the creation of the X application for everything.” After this tweet, Musk made a post about the letter X, saying, “I’m not sure what subtle hints gave it away, but I love the letter X.”
Elon Musk’s Love for “X”
In 1995, Musk founded a software company called Zip2 with his brother, which he sold for $307 million in 1999. With the money he earned from there, he established an internet banking company called X.com in the same year. This company merged with the software company Confinity and became the famous PayPal. However, Musk’s love for companies with names starting with X didn’t end there.
Musk’s obsession with the letter X can also be seen in the companies he founded later. SpaceX, the space exploration company, is one of them. While the name of the artificial intelligence company he established a few weeks ago is xAI, one of Tesla’s most popular models is Tesla X.
