"How much is that Doge in the window?" the Tesla CEO tweeted to his 55 million followers.

Attached to the tweet was a photo with the word "CYBERVIKING" in blue neon lights. Under it was what seemed to be a one-dollar bill but with the popular shiba inu dog at the center instead of George Washington.

Just before the billionaire’s tweet at 6:41 a.m. ET, the price of was at 0.3667, according on Coinbase data. By 6:45 a.m. ET it had risen as high as 0.4216, marking a quick 15% jump.  

The cryptocurrency, which started as a joke in 2013, pared those gains before extending once again. It last traded at $0.4302 as of 9:15 a.m. ET.

The movements reinforce just how volatile the cryptocurrency is. Dogecoin in particular is known for its price fluctuations, moving frequently when prominent figures like Musk tweet about it.

In , the self-appointed Dogefather published a one-word tweet that sent dogecoin up by 25% in minutes. In , he posted another tweet saying his space exploration company will put dogecoin on the "literal" moon, causing it to jump 30%.

Dogecoin has seen a blistering rally in 2021, thanks in part to well-known backers such as Musk, Mark Cuban, rapper Snoop Dogg, and Kiss member Gene Simmons.

Dogecoin on May 8 hit its record high of $0.7376.