Elon Musk, CEO at Tesla (NASDAQ: TSLA), and SpaceX have just sent Dogecoin cryptocurrency to “the moon” again. The meme-based cryptocurrency surged 35% higher following Musk’s tweet.
Dogecoin — first launched in 2013 as a joke, currently has a market capitalization of $7.81 billion and 113 billion mined coins to date. The meme cryptocurrency reached an all-time high of 0.065448 on Sunday. Furthermore, the year-to-date returns on the Dogecoin were over 1,000%.
Meanwhile, Musk is helping drive the Dogecoin to a new all-time high every time he tweets. On Saturday night, Musk posted a Twitter poll, asking his 45.8 million followers to choose “the future currency of Earth.”
Musk gave two options: “Dogecoin to the Moooon” or “All other crypto combined.”
Consequently, 2.4 million followers contributed to the vote, and voters chose Dogecoin over other cryptos. The poll results were: 71.3% of the 2.4 million who voted for “Dogecoin to the Moooonn.”
This is the second time that Musk drives Dogecoin’s price to a record-breaking price. Last week, he described Dogecoin as “the people’s crypto” and the digital token saw a 59% increase in result.
Bitcoin blasts above 40,000 again, altcoins suffer corrections
On Saturday, the largest cryptocurrency Bitcoin (BTC) soared to $40,000 again. The number one digital token by price and market cap recovered after one month of struggling with correction. Consequently, several traders shifted to Bitcoin again — selling their altcoins and causing a downturn to several altcoins such as ETH.