Dogecoin value surges as Elon Musk breaks his Twitter silence with a tweet endorsing the cryptocurrency

Dogecoin value surges as Elon Musk breaks his Twitter silence with a tweet endorsing the cryptocurrency

Dogecoin value surges as Elon Musk breaks his Twitter silence with a tweet endorsing the cryptocurrency

Just days after Elon Musk announced that he is taking a break from Twitter, a one word tweet from the Tesla CEO boosted Dogecoin's value by 44 percent. Musk broke his self-imposed Twitter silence this morning with a host of tweets endorsing the Dogecoin. Minutes after Musk shared the tweets, they had thousands of likes and retweets. Musk posted four tweets regarding Dogecoin, and at the time of writing the story, one of his earlier tweets had close to 40,000 retweets. The value of Dogecoin surged 44 percent since Musk shared the tweet, according to a report by MarketWatch.

It all started when earlier today Musk shared a picture of a rocket to the moon. He then added just one work to the tweet: Doge.

This tweet had Dogecoin's value surging. For the uninitiated, Dogecoin is both something of a joke and a real and functioning cryptocurrency.

Minutes later, Musk shared a "ur welcome" tweet, which essentially mimicked the Dogecoin logo, with the exception that his face was superimposed over Rafiki's (a character from Lion King).

Later, Musk shared a few more tweets basking in the glory of helping boost the Dogecoin.

This isn't the first time Musk helped changed the fate/value of a cryptocurrency. Last Friday, he changed his Twitter profile to simply read "#bitcoin". The cryptocurrency's price temporarily skyrocketed just under 25 percent.