The price of Dogecoin rose briefly after Elon Musk used drones to send a Dogecoin mascot into the sky during the inaugural event for the Texas Gigafactory.
Elon Musk, the CEO of Tesla and a Dogecoin supporter, has warned that the launch event might be “the largest party on earth.” Because a number of neon-lighted displays were lit and autonomous drones were deployed to create a light show in the sky, it was dubbed “Cyber Rodeo.” It was created to commemorate the launch of Tesla’s newest Gigafactory in Texas.
Several attendees observed a drone-made mascot of the original meme cryptocurrency Dogecoin at the event (Tesla had applied to the authorities for permission to host 15,000 people).
The celebration began at 4 p.m. local time, less than two weeks after Tesla opened its first Gigafactory in Europe, in Berlin. Six Tesla Gigafactories are now operational around the world, including one in Shanghai and others in numerous US states.
As a result of the footage of a Shiba Inu emerging in the dark sky during the Tesla party going viral on Twitter, the Dogecoin price spiked by nearly 5% to $0.1527 earlier today.
The meme cryptocurrency, on the other hand, has already retraced to $0.1453.
Elon Musk joins Twitter Board of Directors
The Tesla CEO joined the Twitter Board of Directors earlier this week, as earlier reported by Coinscreed, after disclosing the purchase of a 9.2 percent interest in the company.
As a result, Musk became the company’s single largest shareholder. He is not allowed to buy more than 14.9 percent of Twitter’s stock under the terms of the agreement he struck with the company.
Musk has stated that he is looking forward to working with Twitter CEO Parag Agrawal and the Twitter board of directors to “enhance Twitter significantly in the next months.” The addition of an edit button appears to be one of these enhancements.
