Elon Musk’s ‘420’ Tweet: Unraveling its Connection to Dogecoin

The Dogecoin community is excited when Elon Musk, the CEO of X and Tesla, brings up the number 420.
April 20 is jokingly referred to as “Doge’s Day” in relation to Musk and Dogecoin.

Elon Musk, the tech millionaire and visionary who is in charge of Tesla, X (previously known as Twitter), and a number of other significant businesses, is still a key figure on social media, particularly in relation to Dogecoin, the original memecoin. Musk, who is regarded as the world’s largest lover of Dogecoin, has once again lit up the networks with his theme innuendos relating to DOGE.

Elon Musk's '420' Tweet: Unraveling its Connection to Dogecoin
Source: Crypto News Flash
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Musk cited one of his favourite numbers, “420,” in a recent tweet. He has used this number many times in the past. His horde of X followers responded hilariously and enthusiastically to this mention. Why is this particular number so special? The number “420” alludes to April 20, which is regarded as “Marijuana Day” in some quarters.

But in recent years, this day has come to be known as “Doge’s Day” among supporters of Dogecoin. When this number is brought up, Musk appears to be amusedly linking it to DOGE, one of his favourite projects.

That’s not all, though. Musk said in a 2020 tweet that he was born on June 28, “69 days after 420.” This means that Musk considers the number 69 to be humorous as well and frequently mentions it in his tweets.

We must not overlook the incident that took place at the beginning of the year and is known as the “Tesla 420 case.” This investigation was started by the U.S. Securities and Exchange Commission (SEC) in 2018 after Musk tweeted that he was thinking about taking Tesla private for $420 with secured funding.

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The SEC filed a lawsuit against Musk after accusing him of breaking US securities laws. But in the end, Musk won this court struggle, which undoubtedly strengthened his symbolic association with the number 420.

The community’s reaction to Musk’s most recent “420 tweet” was swift. Dogecoin lovers and supporters responded to it with tremendous fervour. The DOGE community has long been renowned for its good humour and joyous atmosphere, and this particular occasion was no different. Comments and memes about “Doge’s Day” and Musk’s quips about the numbers 420 and 69 were all over the networks.

Musk, meanwhile, wasn’t the only one to take part in the festivities.

The CTO of Ripple got in on the joke as well, publishing something that mentioned the company’s cryptocurrency, XRP. Using the signature humour of the cryptocurrency community, he seemed to congratulate Musk on his court triumph in his statement, forging a bridge between two seemingly disparate realms.

Despite its seeming lightheartedness and humour, this social media exchange illustrates the increasing effect that celebrities like Elon Musk are having in the bitcoin space. His actions and remarks may have a big influence on how people see cryptocurrencies and their pricing, so investors and enthusiasts alike avidly monitor what he posts.

This is a fact that Musk is familiar with, as he has frequently expressed his opinions on cryptocurrencies using his platform, which has sparked discussion and movement in the markets. His advocacy for Dogecoin in particular has raised the cryptocurrency’s profile and market value.

In the realm of cryptocurrencies, there is no denying the “Musk effect” and his capacity to sway public opinion. His distinct aesthetic and lighthearted demeanour have drawn a devoted following of followers eager to take his opinions and advise seriously in the cryptocurrency realm.

What does Dogecoin’s and all cryptocurrencies’ future hold? Can Musk use his themed Twitter tweets to further increase interest in and adoption of DOGE? The answers to these questions will only come with time. There is no denying that Musk has made Dogecoin into a cryptocurrency that is unavoidable, and his impact on the market is evident.

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