Elon Musk has once again demonstrated his ability to put Dogecoin (CRYPTO: DOGE) in the green with a single tweet.

What Happened: In a tweet on Wednesday, Musk revealed that he 'let the Doge out,' referring to meme coin DOGE.

High time I confessed I let the Doge out pic.twitter.com/TAi4p1khAd

— Elon Musk (@elonmusk) February 22, 2023

At the time of writing, DOGE was up 4.7% in the last 24 hours. 

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On Wednesday night, DOGE was down 3%, trading at $0.082, until a tweet from Musk made the price spike to $0.087.

Shiba Inu (CRYPTO: SHIB) also posted gains of 1.51% that can be attributed to Musk’s tweet.

Last week, Musk shared a photo of his dog wearing an iconic Silicon Valley-style black turtleneck while seated authoritatively in a large armchair behind a desk. Musk’s comment, “The new CEO of Twitter is amazing,” was enough to push up the prices of canine-themed cryptocurrencies.

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