KEY POINTS

  • Many Dogecoin fans wonder if Jeff Bezos is a fan of the dog-themed crypto
  • The billionaire now follows Billy Markus on Twitter
  • Dogecoin is trading down 1.28% at $0.1236

Dogecoin's price skyrocketed after billionaire Jeff Bezos followed DOGE co-founder Billy Markus on the social media platform Twitter, triggering the hopeful Doge Army to speculate that the Amazon founder may be onto something that could help the world's first dog-themed token to surge "to the moon."

Billy Markus, the co-founder of the decentralized cryptocurrency Dogecoin, shared over the weekend that Bezos followed him on Twitter courtesy of the account BigTechAlert, which follows what the CEOs and other top executives from Big Tech companies do on the micro-blogging site.

Markus, who goes by the Twitter handle Shibetoshi Nakamoto, posted a GIF with the caption "You did it," which hyped many fans. Following Markus' tweet, the price of DOGE shot 4.02% to $0.01319 on Saturday from its closing price of $0.01268 Friday night.

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Fans were also quick to draw conclusions from the tweet, with some excited about what it could mean for the community. One fan hoped that "this means we have a new member of the #dogefam," and warmly welcomed the billionaire.

Another said it might mean that Bezos is on the project while another noted that whatever his action means, they believe "it means a lot for Doge." Several others said Bezos could help Dogecoin's price surge — a breakthrough it has awaited since it achieved an all-time high of $0.7376 in May last year.

Unlike Tesla, Amazon does not accept Dogecoin or any other cryptocurrency. Some crypto investors filed a petition on Change.com demanding that Amazon accept DOGE as a payment option. It has so far gathered 240,725 votes.

Last month, Amazon CEO Andy Jassy said in an interview with CNBC that the online retailer was "not probably close to adding crypto as a payment mechanism in our retail business, but I do believe over time that you’ll see crypto become bigger."

Dogecoin was trading down 1.28% at $0.1236, with a 24-hour volume of $676,116,442, as of 10:36 p.m. ET on Sunday, based on the data from CoinMarketCap.

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