Tesla CEO Elon Musk has recently extended support for the Dogecoin army as he updated his Twitter profile picture to a photo of him with DOGE reflections in his sunglasses. His new look instantly managed to grab the attention of the market and as a result of this, DOGE pumped around 20% after changing his photo.

Tesla CEO Elon Musk Changes Profile Picture With DOGE Reflections, Dogecoin Price Surges

Billy Markus, the co-founder of Dogecoin took it to Twitter to post his own meme about the influence of Elon Musk on the market. 

Elon Musk be like pic.twitter.com/LRs6kEPgvB

— Shibetoshi Nakamoto (@BillyM2k) July 17, 2021

As a matter of fact, the tweet by Tesla CEO did manage to put an effect on the market and the price of Dogecoin surged around 20% but it did not take too long for the cryptocurrency to plunge again back to the levels of $0.187 on some crypto exchanges.

In addition to this, it should be noted that last month, Musk changed his profile picture with a laser-eyed Bitcoin anime girl. However, it did not do quite notable for the biggest cryptocurrency and the market leader as its price was not affected much by his tweet.

Both the cryptocurrencies, Bitcoin and Dogecoin, were extremely popular during the beginning of this year as their price surged and made their investors rich.

As of now, both the most popular cryptocurrencies of this year are significantly down from their 2021 highs.

Dogecoin and Bitcoin Down From Their ATHs

Well, to some extent, Elon Musk and his electric vehicle manufacturing company Tesla is responsible for the fall in the price of these cryptocurrencies.

Earlier, when Tesla made an announcement that they are going to accept BTC payments and hence a customer will be able to buy a Tesla car with Bitcoin, but later, Tesla announced that they are not going to accept payments in Bitcoin.

As for the reason for this, the Carbon Footprint of Bitcoin has to be blamed.