Information technology may be an April Fool's Day prank, but when information technology comes to meme-based cryptocurrency Dogecoin (DOGE), information technology hardly matters.

DOGE/USD 1-hour candle chart (Bittrex). Source: TradingvVew

Musk: SpaceX taking Dogecoin to "literal moon"

After a fresh tweet from Tesla CEO Elon Musk, DOGE/USD shot up 35% in minutes on April i, hitting half dozen-week highs.

Musk, newly dubbed the "Technoking" of Tesla, is known for his tongue-in-cheek Dogecoin publicity, and his antics on Twitter and in interviews take already succeeded in boosting the altcoin'due south price.

This time was arguably the most overt instance of "memeing" a cryptocurrency to the moon, however, every bit Musk promised that his other company SpaceX would "put a literal Dogecoin on the literal moon."

Immediately, Dogecoin began ascent, reaching a summit of $0.07 earlier cooling off merely still retaining the gains.

Having began 2021 at just $0.004, DOGE'due south year-to-engagement gains as of April 1 stood at over one,500%.

In a perhaps equally unlikely just genuine move, Latvian national carrier airBaltic announced this week that passengers can now volume flights using DOGE forth with several other altcoins. Bitcoin (BTC) has been accepted since 2014.

More than than empty promises?

Musk, meanwhile, has found himself in hot water over his Twitter plugs, with reports emerging in Feb that the mogul was under investigation by Usa government.

He is not the only one to autumn foul of the establishment for doing so. Equally Cointelegraph reported, entrepreneur John McAfee was charged with a raft of offenses last month, amid which were his daily showcases of diverse cryptocurrencies on Twitter.

However, it was advertising Dogecoin in detail that got him into trouble, he claimed.

The concept of clamping down on declared market manipulation remains a sore indicate among many lay investors in light of the Reddit–GameStop debacle, which saw trading platforms forbid investors from transacting in a seemingly advertizing hoc fashion when their trading provoked heavy volatility.