Elon Musk, the owner of companies like Tesla and SpaceX, remains in the headlines for cryptocurrencies. First Bitcoin, then Dogecoin and now a new cryptocurrency Baby Doge has Elon Musk’s heart in it. Elon Musk tweeted about the Dogecoin spinoff Baby Doge on Thursday, and the Baby Doge cryptocurrency has nearly doubled in value since then.
In his tweet, Musk used the lyrics of the song Baby Shark, which went viral last year. Let us tell you that Baby Shark is a video of a child’s song on YouTube, which has been seen by the most people so far. In the tweet, Musk wrote Baby Doge instead of Baby Shark. After this this cryptocurrency started trending on social media. According to CoinMarketCap, Baby Doge has seen tremendous growth following Musk’s tweet and has increased its price by 98 percent.
On July 1, Baby Doge was trading at around Rs 0.000000063612 in the morning. After Musk’s tweet, its price rose almost 1.4 times to touch the level of Rs 0.000000155717 during the whole day. However later it came down. This is Baby Doge’s fastest ever in its existence in such a short time. Baby Doge debuted in the month of June and in less than a month its price has gone up by 8 times. On the other hand, the price of the increasingly popular cryptocurrency bitcoin is coming down. According to data from Coindesk, the price of bitcoin has fallen 3.5 percent in the last 24 hours.
