2021-12-14 18:00:45

Is Dogecoin a Buy After Tesla’s Elon Musk Tweets About It?

Dogecoin is erupting higher on the day, up more than 20% so far on Tuesday.

However, bulls are likely somewhat discouraged with the price action, despite the lofty gains. That’s as dogecoin was up almost 40% at one point in the day.

The move came after a tweet from Tesla  (TSLA) – Get Tesla Inc Report CEO Elon Musk.

He wrote that, “Tesla will make some [merchandise] buyable with Doge & see how it goes.”

That gave a huge lift to the cryptocurrency and it’s not hard to see why. While Musk has been bullish on dogecoin in the past, the cryptocurrency has really been struggling lately.

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