- New cryptocurrency baby doge coin surged following a tweet from Elon Musk.
- The tweet read in part, "Baby doge, doo, doo, doo, doo, doo," a reference to the "Baby Shark" song.
- The price of baby doge coin doubled, according to CoinGecko.
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A tweet from Elon Musk caused the price of a new meme cryptocurrency called "baby doge coin" to surge.
Musk tweeted "Baby doge, doo, doo, doo, doo, doo," in reference to the well-known kids' song "Baby Shark." The hashtag #babydoge trended on the social media site following the tweet.
The price of the coin, trading as BABYDOGE, more than doubled following the Musk's message, according to data from CoinGecko, which showed the price rose to $0.000000002000 at 10:53AM in New York from $0.00000000916 just before the tweet.
Musk's tweet came just an hour after another one, in which he said "release the doge," which prompted dogecoin, now known as the father of "baby doge coin," to also rise.
Musk has become one of the biggest drivers behind moves in the cryptocurrencies this year, and his tweets have often sparked a bout of volatility in the price of coins he mentions.
Dogecoin began as a joke in 2013 and has since become a mainstream digital asset. Baby doge coin is now a new addition to the crypto world.
According to a description from CoinMarketCap, "Baby Doge seeks to impress his father by showing his new improved transaction speeds & adorableness. He is Hyper-deflationary with an integrated smart staking system built in so more baby doge are being added to your wallet. Simply Love, pet, and watch your baby doge grow.