Tesla Inc TSLA CEO Elon Musk has once more proven his assist for Dogecoin DOGE/USD.
On Sunday, he went on Twitter to endorse Dogecoin, following the meme coin’s value plunge in the previous couple of days. DOGE is down over 12% previously seven days.
I’ll maintain supporting Dogecoin
— Elon Musk (@elonmusk) June 19, 2022
The Dogecoin rose nearly 8.5% in 24 hours after Musk wrote that he would maintain supporting Dogecoin.
Responding to his tweet, one among his followers stated he ought to maintain shopping for the cryptocurrency. Musk replied that he was shopping for the meme coin.
I’m
— Elon Musk (@elonmusk) June 19, 2022
Additionally Learn: Elon Musk Says Dogecoin Should Be ‘More Currency-Like,’ Responds To Billy Markus On Crypto’s Future
The general crypto market noticed some motion after Musk’s tweets. In accordance with Coinmarketcap, and on the time of writing, Bitcoin BTC/USD was buying and selling at about $19,674 on Sunday after dropping as low a $17,708.62 on Saturday.
The Dogecoin was created in 2013 by Jackson Palmer and Billy Markus as a joke, however gained a lot recognition following Musk’s endorsement of the meme coin.
On Saturday, Musk signaled that his corporations would broaden use circumstances for Dogecoin.
Dogecoin has made manner for extra meme cash reminiscent of Shiba Inu SHIB/USD, Dogelon Mars ELON/USD, Floki Inu FLOKI/USD, and lots of extra.
Final week, Musk was sued for $258 billion by a Dogecoin investor for allegedly operating a “pyramid scheme.”
Picture: Created with a picture from Ministério Das Comunicações and Brian Bald on Flickr
