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Serial tech entrepreneur Elon Musk has published a Dogecoin-themed tweet, reacting to a post issued by an Ideas Beyond Borders co-founder Melissa Chen about the original meme cryptocurrency.

DOGE retweet from Elon Musk pleases crypto community

Melissa Chen shared that she had found it extremely amusing to listen to serious journalists from the Wall-Street Journal pronouncing “in their professional radio broadcasting voice” the word “DOGE” as part of a “serious news bit”.

She admitted that part of her “cannot believe that it all started from a meme.” And then she referred to a recently formed D.O.G.E. agency which stands for the US Department of Government Efficiency: “A govt agency was memed into existence. Much wow.” Musk commented on this tweet, saying: “This is so awesome.”

The D.O.G.E. is spearheaded by the big Dogecoin and meme fan Elon Musk and businessman Vivek Ramaswamy.

The Dogecoin community reacted with enthusiasm and support, posting positive tweets about DOGE and Musk: “Elon is the CEO of DOGE”. “DOGE is easy to pronounce.”

Elon Musk has been very supportive of Dogecoin over the past seven years. DOGE attracted his attention roughly when Bitcoin reached the first all-time high of $20,000 in 2017 and he started to frequently mention it (or the Shiba Inu meme dog Kabosu) in his tweets.

This often resulted in a large impact on the Dogecoin price, pushing the asset upwards. Rcently, Musk has stated that he does not intend to endorse any cryptocurrency unless it is done in the form of a joke or a meme.

DOGE, PEPE net best returns lately

Recently published report by the on-chain data aggregator Santiment has revealed that over the past seven days, meme coins have brought traders the highest returns. In particular this is true about such meme cryptocurrencies as Dogecoin, Pepe, and Bonk.

DOGE has netted 96%, PEPE scooped up 97%, while BONK has seen a 67% growth, leading the way for the rest of the meme coin market.

Curiously, a recent tweet published by the Litecoin X account says: “Due to current market conditions I now identify as a memecoin.”

On Thursday, LTC printed a massive green candle, soaring by almost 12% to hit $85, rising along with the rest of meme coins in the market. By now, however, the price has dropped back to $80, decreasing by 5.5%.

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