After a short break from his usual comments on Twitter about the cryptocurrency space, Elon Musk reminded of his humoristic side with a new set of intriguing posts. Although his tweets contained the word “Doge,” the meme coin failed to increase. However, it turns out that the billionaire had Dogecoin’s baby in mind.
Aside from his views on bitcoin, Tesla’s CEO has outlined his support for Dogecoin for months. This propelled the Shiba Inu-inspired meme coin into the stratosphere at one point, as it charted an all-time high of $0.75 and even became the fourth-largest digital asset.
The market correction, and perhaps the declining interest toward that new craze, caused severe disruptions for its USD value, which is 67% since its ATH charted a few months ago.
Some desperate investors who followed Musk blindly and other prominent names started begging the billionaire to engage with Dogecoin on social media as his previous comments resulted in immediate price increases.
Tesla’s CEO kept a low profile for a while, but he’s back again with new posts today. Although both had the word “Doge,” the meme coin’s price didn’t respond.
Baby Doge, doo, doo, doo, doo, doo,Baby Doge, doo, doo, doo, doo, doo,Baby Doge, doo, doo, doo, doo, doo,Baby Doge
— Elon Musk (@elonmusk) July 1, 2021
Instead, it seemed that Musk was referring to another cryptocurrency going by the name Baby Doge Coin. The website described it as a token that has “learned a few tricks and lessons from his meme father, Doge.”
The so-called “world’s best community coin” has seen the light of day because of fans and members of Dogecoin. Although Doge has indeed inspired many other copycats, it appears this particular one has caught the attention of Elon Musk.
After the second tweet, the price of Baby Doge Coin spiked by nearly 90% in minutes. As of now, the baby meme coin trades at $0.000000001937, which means a weekly increase of over 700%.
Furthermore, BABYDOGE is less than 5% away from breaking the previous all-time high marked on June 24th, according to CoinGecko.