Although the ‘Musk Effect’ is now becoming a common internet slang, this is not the first, second or third time that Elon Musk has tweeted about DogCoin, raising its prices.

Late Sunday night, the billionaire posted yet another tweet about the meme cryptocurrency, just saying ‘dojo 4 doge’.

Dojo 4 Doge— Elon Musk (@elonmusk) February 21, 2021

The dojo, which he refers to in the tweet, is a supercomputer owned by Tesla. In November 2020, Musk first mentioned this by tweeting. A news report on the computer explains its purpose: “Dojo data will be used for labels obtained from vehicles with Tesla cameras that Tesla is on the road. Tesla can pull video data from thousands of cars if a user allows it And can use it for artificial intelligence training. For now, a lot of it is done by humans who verify that a computer sees the right thing, or make improvements if a computer is confused. The dojo is to be used to automatically label petabytes of 4D data.

After Musk’s latest tweet, Doggie was trading 4.28% higher at $ 0.057. Top cryptocurrency bitcoin (BTC) was up 4.19% at $ 57,523.69 after hitting another all-time high earlier in the day.

Although the ‘musk effect’ is now becoming a common Internet slang, it is not the first, second or even third time that Elon Musk has done it.

Musk, which has been tweeting continuously about meme cryptocurrency for some time, led an all-time high of $ .04565, about 35% below its 24-hour low in early February, according to CoinDesk. The cryptocurrency price subsequently fell again before climbing back to around 25% profit. The Sheeba Inu themed digital coin then crossed 8 cents for the first time, 2.5 cents after crashing for just a week and sparking an outcry on Reddit.

Just last week, Musk said he supported the major holders of the meme-based digital currency Dogecoin by selling most of their coins, adding that he felt too much concentration in Dogecoin was the “real issue”.

“If the major Dogecoin holders sell most of their coins, it will get my full support. He said in a tweet, too much concentration is the real issue IMO. But that was not all — he was willing to pay ‘real dollars’ for it.” Offered .

Musk had also recently posted a Twitter poll, asking his 45,400,000 followers to choose ‘the future currency of the Earth’. He gave two options: “DogeCoin to Moonon” or “All other cryptos combined.

As a result of the survey, 41.3% of the 2,400,000 voters said the currency would be the future of “Dogecoin for Moooonn”.

By Alex Alena

Alex Alena has been the lead news writer at Cryptocurrency Updates. With a degree in communications, Matt has an uncanny ability to make the most complex subject matter easy to understand.