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Author: Admin | 2025-04-28
The value of Dogecoin rose by roughly 40%.[80]On April 15, 2021, the price of Dogecoin rose by more than 100% after Musk tweeted an image of Joan Miró's Dog Barking at the Moon painting captioned "Doge Barking at the Moon",[81] a message which was taken by some as a reference to the industry slang term "to the moon",[82] meaning a hoped-for increase in a cryptocurrency's value.[83]On May 8, 2021, Dogecoin fell as much as 29.5%, dropping to US$0.49 during Musk's Saturday Night Live appearance.[84] It then rose by 11% on May 20, 2021, shortly after Musk tweeted a Doge-related meme.[85] In the same month, the price of Dogecoin was up 10% in the hours after Musk tweeted a Reddit link for users to submit proposals to improve the cryptocurrency.[86]On December 14, 2021, Dogecoin spiked more than 20% after Musk said that Tesla will accept the currency as a means of payment for Tesla merchandise.[86][87]On June 16, 2022, Elon Musk was named in a complaint seeking damages of $258 billion. The complaint was filed in federal court in Manhattan by plaintiff Keith Johnson. Johnson cited Musk's repeated use of his massive social influence to promote the altcoin, which he claims artificially inflated the price.[88]Prior to Musk's acquisition of Twitter, he had suggested that Dogecoin could be used for Twitter transactions, such as the purchase of Twitter Blue accounts.[89] On October 27, 2022, Elon Musk completed a deal to take Twitter private. This led to a sustained rise in the price of Dogecoin from October 25 to October 29, with Dogecoin increasing as much as 46%.[90] When X announced the launch of its X Money Account digital wallet product in February 2025, cryptocurrencies were not supported.[91]Between April 3 and April 7,[92] 2023, Twitter's bird logo was replaced with an image of the
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