Dogecoin Increases in Value Following Elon Musk’s Tweet of the Most Relatable Crypto Meme
Dogecoin’s price increased around 2% to an intraday high of $0.167 after Tesla CEO Elon Musk tweeted a famous cryptocurrency joke inspired by Christopher Nolan’s blockbuster science fiction film Interstellar.
The meme alludes to instances of severe gravitational time dilation described in the blockbuster film. After arriving on Miller, a water planet circling dangerously near to the hypothetical black hole Gargantua, Joseph Cooper (Matthew McConaughey) informs his team that seven years on Earth are equivalent to only one hour on Miller due to the planet’s tremendous gravity. A screenshot from the aesthetically arresting moment starring Amelia Brand (Anne Hathaway) and Doyle (Wes Bentley) became a meme a few years after the film’s release, garnering interest on social media platforms such as Facebook and Reddit.
The remarkable time dilation notion, which is essential to the film’s storyline, also became a source of humour among the cryptocurrency community, owing to the known volatility of Bitcoin and other cryptocurrencies. Dogecoin, the biggest meme currency, increased 19,090 percent in less than three months last year, making some of its holders very wealthy in a surprisingly short period of time. The canine currency is now trading down 77.56 percent from its all-time high.
Additionally, the fickle nature of cryptocurrency results in frequent attitude shifts, with individuals becoming negative or optimistic after a single large move in either direction.
Musk, whose frequent tweets about Dogecoin drove the surge last year, helped reignite interest in DOGE earlier this month by making some Tesla product purchaseable with the original humour currency.
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