In summary:
Billionaire entrepreneur, Elon Musk, has been known for his particular liking for memes and regularly Tweets his favorite ones. His most recent one hints that DogeCoin (DOGE) will become the new standard in the global financial system. The tweet further hinted that the global financial dominance of DogeCoin is inevitable.
Due to his liking of DogeCoin, Elon Musk was unofficially appointed the CEO of the DogeCoin (DOGE) project back in April of 2019. This was after a poll was held and 49% of the respondents preferred the Founder of Tesla and Space X to a variety of other prominent individuals such as Ethereum’s Vitalik and Litecoin’s Charlie Lee.
Mr. Musk’s love for memes has gone as far as him declaring, albeit lightheartedly, that ‘he who controls the memes, controls the universe’.
In the case of DogeCoin, the meme by Elon Musk definitely had an effect on the price of DOGE. Before Elon Musk tweeted about DogeCoin becoming the new global financial standard, DOGE was experiencing sideways movement around $0.003. After the tweet, DOGE hit $0.0037 on Binance: a 23% increment in value in less than 24 hours.
Taking a second look at the daily DOGE/USDT chart, the following can be observed.