Dogecoin’s price jumped as high as 35% after Elon Musk tweeted ‘Dogecoin to the Moooonn’ in a Twitter poll on the future of crypto.
Elon Musk, chief executive at Tesla and SpaceX, drove the price of Dogecoin cryptocurrency by as much as 35% higher with a series of tweets late Saturday.
The digital currency hit an all-time high of $0.065448, up about 35% from its 24-hour low of $0.048356, according to CoinDesk.
The cryptocurrency’s price later dropped again before climbing back to about 25% gains.
Year-to-date returns on the cryptocurrency were about 1,032.91%, the site said. The cryptocurrency had a market capitalization of about $7.81 billion early Sunday.
Musk on Saturday night posted a Twitter poll, asking his 45.8 million followers to choose “the future currency of Earth.”
He gave two options: “Dogecoin to the Moooonn” or “All other crypto combined.”The poll resulted in 71.3% of the 2.4 million voters saying that “Dogecoin to the Moooonn” would be the future of currency.