Dogecoin had lost more than a third of its price, after Tesla chief Elon Musk called it a 'hustle’ during 'Saturday Night Live'
His cryptic tweets "Doge" and "Dogecoin is the people's crypto" that month kicked off a rally in dogecoin - created as a parody on the more mainstream Bitcoin and Ethereum.
But he also said, in the video, that cryptocurrency has a "good chance" of becoming what he called "the future currency of the Earth." "I think he's having a lot of fun ... He can say anything he wants about dogecoin or cryptos fully aware that just him saying something moves the price," said James Angel, associate professor at Georgetown University’s McDonough School of Business, who specialises in financial markets and cryptocurrency.
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