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.
Source: Cryptocurrency - investing.com
