Elon Musk Tweet Moves Baby Doge Coin 108%

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Last Updated on 2 July 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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Back in March of this year, when all was well in the land of crypto and Bitcoin sought to touch $50,000, a single Elon Musk tweet was able to push the price of Dogecoin several percentage points. Musk went on to present SNL in April of this year, claimed that Doge was a hustle and has since seen the price of the most popular meme coin fall.

Other coins trying to copy Doge’s success (DOGE is still up several thousands of percentage points this year) have since sprung up. The most famous one so far was a crypto called Shiba Inu, which briefly made it into the top 20 at CoinMarketCap in April 2021.

However, the makers of that coin had decided to donate a large part of their initially minted crypto to Vitalik Buterin, the founder of Ethereum, in order to give their coin some serious backing from a known person in the cryptosphere. Their idea was that Vitalik wouldn’t rug pull you.

This turned out differently as Vitalik gave away a cool billion dollars in Shiba Inu to help combat the Covid crisis in India, after which the value of Shiba Inu fell.

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Baby Shark

Since a few weeks, other copycats trying to mimic Dogecoin and Shiba Inu’s success have sprung up. A week or so ago, Musk stated that he would call his Shiba Inu dog (if he ever got one) Floki. Immediately a coin with the same name was made and of course, the value of that crypto skyrocketed overnight.

Yesterday, Elon Musk, who has young children, reminded every young parent of the highly recognizable tune for Baby Shark, the children’s song that has racked up 8 billion views on YouTube.

YouTube video

This time round though, Musk did it with the name Baby Doge.

The term babydoge started trending on twitter (Musk has 57 million followers) and a small cryptocoin with the name Baby Doge jumped 108% as a result. Currently Baby Doge Coin is down 10%.