Elon Musk confirms support for Dogecoin in changing profile picture

The CEO of Tesla and SpaceX continues to write about the Dogecoin meme on Twitter. Elon Musk confirmed his support for Dogecoin when he changed the profile picture on his Twitter account to include a picture of the dog Shiba Inu, who represents Dogecoin.

He also tweeted that his son “walks with his dick like a champ”. According to Coinbase, Dogecoin trading volume on major crypto exchanges worldwide increased 1,250% in the second quarter.

Elon Musk confirms support for Dogecoin in changing profile picture

Yesterday the Doge community was excited when many people noticed that Elon Musk, better known as Dodge, had changed his Twitter account picture to one of those wearing sunglasses with a dog named Dodge: Shiba Inu.

After changing his profile picture, the price of Dogecoin rose slightly but then fell and lost all of his winnings by the end of the week. The DOGE price at the time of writing is $ 0.174 based on data from Bitcoin.com markets.

Before Musk updated his Twitter account, he wrote about Dogecoin on Twitter on Saturday, confirming that his baby named “XA-12” is not selling his DOGE. Musk wrote:

“Lil X goes with DOGE as a champion. He really never said the word “sell”.

Earlier, Musk said he bought Dogecoin for his son “so he could be a little kid”. He also stated that he owns DOGE himself but did not disclose how much.

Meanwhile, the trading volume of Dogecoin grew rapidly. According to the data collected by Coinbase, as reported by Insider:

Dogecoin trading volume increased 1,250% on major global crypto exchanges in the second quarter of the year.

The average daily trading volume of Dogecoin reached $ 995 million in the April-June period, up from $ 74 million per day in the first quarter.

By comparison, Coinbase data shows that ether trading volume rose 53% from the previous quarter to an average of $ 3.25 billion per day on global exchanges. Meanwhile, the daily bitcoin volume fell 14% to $ 4.01 billion.

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