By 
Cryptocurrencies share a confusing relationship with their holders. They are extremely volatile and transform a person’s bullish perspective into a bearish one within seconds. Sometimes it is an unknown factor, and sometimes, it is a known factor.
Elon Musk falls in the latter category. He apparently holds power to influence the price of Dogecoin with a single tweet on the micro-blogging platform.
The Meme And Its Effect
This time he has shared a meme that is based on Christopher Nolan’s 2014 Sci-Fi feature film titled Interstellar.
The meme carries a title at the top. It says Cryptocurrencies, followed by a tagline at the bottom saying one hour here is seven years on Earth. One simple meme has spiked the price of Dogecoin by more than 2%. The digital coin has touched the intraday value of $0.167.
A meme shared on Twitter highlights the concept of gravitational time dilation on another in Interstellar. It is a mystery if the meme carries a hidden message or not, but it has now become a center of the joke in the Crypto community.
Twitter remained the main platform to witness all the funny responses to the Crypto meme shared by Elon Musk.
One user, @CoreyBenore, joked that the value of Dogecoin would hit the Moon if Elon Musk continued to tweet about it every 30 seconds. Another user, @NicoleBehnam, said that Tom Cruise was ready to leave Scientology for Crypto.
Out of all the users who joked on the internet, one of them gave a fitting justification. The user goes by the name @Astronomiaum on Twitter.
The user said that it was a hint to derive the final conversion factor of the value of Dogecoin after seven years. @Astronomiaum highlighted the calculation to show that there were chances of hitting an approximate market valuation of 61,400 in the next seven years. Visit here to know a detailed calculation-based price prediction of Dogecoin.
Elon Musk has a history of unofficially governing the price of Dogecoin.
His recent venture came to light after he made some of the Tesla products eligible for purchase through the meme coin. The update was announced while underlining that the future of Dogecoin acceptance at retail will depend on how it performs in the current moment.
Customers are curious about the products that can really be bought through Dogecoin. Elon Musk had said that products with a price in the range of $50 and $1,900 could be bought, but he never specified the list or name of the products.
He brought back everyone’s interest in Dogecoin last year by publishing several tweets on Twitter.
Dogecoin is currently down by 77.56% from its all-time high price. Traders are less bothered as it has already gained 19,090% in three months of the previous year, making many investors rich with a smaller holding.
Calculations by @Astronomiaum do prove that Dogecoin could hit 61,400 in the next seven years. However, it can be a coincidence that the tagline got translated to that figure.
Comments