A new Dogecoin spinoff more than doubled in price after Tesla CEO Elon Musk gave the altcoin a shout-out on Twitter.
Musk has become a primary influencer of cryptocurrency moves in recent months, as price volatility spikes often follow his tweets about various coins.
On Thursday, Musk once again turned his attention to crypto, sharing a meme with his 57.7 million followers on Twitter, calling to “Release the Doge!”
Release the Doge! pic.twitter.com/9bXCWQLIhu
— Elon Musk (@elonmusk) July 1, 2021
Just an hour after the initial tweet, Musk followed up with a more direct Baby Doge Coin (BABYDOGE) shout-out in a playful twist on the kid-friendly musical YouTube sensation Baby Shark.
“Baby Doge, doo, doo, doo, doo, doo,
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge”
Shortly after the tweet, BABYDOGE soared 127% from a low of $0.000000000916 to a high of $0.000000002088, according to CoinGecko.
Baby Doge Coin, which runs on Binance Smart Chain, claims to be birthed by fans of the Dogecoin community.
“Baby Doge seeks to impress his father by showing his new improved transaction speeds and adorableness. He is hyper-deflationary with an integrated smart staking system built in so more baby doge are being added to your wallet. Simply Love, pet, and watch your baby doge grow.”
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Featured Image: Shutterstock/GrandeDuc