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Dogecoin Becomes 13th Most Valuable Crypto After Musk Fuels Rally

Published 02/04/2021, 03:51 PM
Updated 02/04/2021, 03:55 PM
© Reuters.

© Reuters.

By Yasin Ebrahim

Investing.com - Dogecoin held onto its gains Thursday, taking its market cap above $6 billion after Tesla (NASDAQ:TSLA) CEO Elon Musk paid homage to the meme cryptocurrency in a series of tweets on Wednesday night.

DOGE/USD jumped 50% to $0.04870, with its market cap jumping to $6.1 billion well above its previous record of around $1.1 billion.

Musk appeared endorse Dogecoin, which uses a shiba inu dog meme as its logo, calling the "people’s crypto," in a tweet on Wednesday night. "No highs, no lows, only Doge," he added.

Dogecoin, created in 2013 as a parody of the countless currencies that arrived on the scene to ride on the coattails of Bitcoin, is now 13 on the list of most valuable cryptos by market value.

Latest comments

nothing like making wealthy richer...coin base gas a real gambling problem.
when dogecoin up again??
Best representation of American scam generation.
there is no american, it is all over the world
This gay should go to jail where is the watchdog. Banks, funds is bothered by load of strict rules and this is out of control crazy..
Elon musk is not a man of the people. He’s an elite who hates people like you and I. Quit giving this guy your money and attention.
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