The meme-based cryptocurrency, Dogecoin (DOGE) has surged to a six-week high after a tweet by SpaceX CEO Elon Musk. The billionaire entrepreneur’s DOGE-friendly tweets have previously led to rapid price increases this year. Year to date, the cryptocurrency has now returned to 1375%. Since then, DOGE saw most of its red and green price action after its most influential supporter, Elon Musk’s endorsement on the cryptocurrency.

DOGE Jumps 30% Following Elon Musk Tweets

“SpaceX will put a literal Dogecoin on the literal moon”, Elon Musk tweets on April 1. Even though Musk’s latest tweet on DOGE happened to be on April Fool’s day, the fact that DOGE hit a six-week high shortly after his tweet was no joke. The single tweet sent the cryptocurrency from roughly $0.053 to $0.070.

SpaceX is going to put a literal Dogecoin on the literal moon

— Elon Musk (@elonmusk) April 1, 2021

The 30% price high took the cryptocurrency to the level last seen on Feb. 13. The token’s market capitalization has now reached $8.2 billion.

At the current time, the price of DOGE had retraced down to $0.05878. The cryptocurrency is still in gain associated with the Musk tweet and was up 7.76% in the past 24-hours.

For some reason, Musk has backed Dogecoin time and again. He has even bought some Dogecoin for his youngest son.

Musk previously called dogecoin the cryptocurrency of Mars. The billionaire did warn of too much concentration in DOGE, two months ago, resulting in a price drop. Last month, he touted DOGE’s listing on the U.S.-based Coinbase exchange.

SpaceX Takes Dogecoin to the Mainstream

Dogecoin started as a joke in 2013. Since then the cryptocurrency has gain mainstream attention thanks to shout-outs from Tesla CEO Elon Musk, rapper Snoop Dogg Kiss member Gene Simmons and pop sensation Kevin Jonas.

For a while, Dogecoin boasted a market valuation of $10 billion, making it more valuable than a number of large companies.

While, companies such as medical-supplier CovCare, sports brand Wooter Apparel and basketball team Dallas Mavericks have announced on adopting Dogecoin as a means of payment.