Crypto Market Update- February 4th, 2021- Peak Financial Stupidity

We have now officially entered the era of peak financial stupidity and are staring into the abyss of the death and total collapse of Western free market capitalism. When the Billionaire CEO of a Car company (that literally relies entirely on government subsidies for it's existence), yet has a market cap just shy of one Trillion Dollars tweets about a joke meme shitcoin called (mistakenly) DOGE (how much it's founder literally didn't give a f*ck), and it pumps, you know civilization as we know it, is finished.

Dogecoin surged more than 60% on Thursday after billionaire entrepreneur Elon Musk tweeted about it, two days after he said he was to take a break from Twitter "for a while".

Dogecoin, which is based on a popular internet meme, jumped 67.99% to $0.054496, according to data on blockchain and cryptocurrency website Coindesk.

Musk first tweeted "Doge" after a picture of a rocket going to the moon. He then tweeted "Dogecoin is the people's crypto".

The Tesla chief also posted an edited image of himself with the Shiba Inu dog at the centre of the doge meme, also the logo for the cryptocurrency.

Musk, who has 45.2 million followers on Twitter, has been highly engaged in the recent retail trading frenzy, tweeting about specific companies and cryptocurrencies and helping send their prices soaring.


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Binance Coin Hits New All-Time Highs

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