Dogecoin surges after Elon Musk tweets his support, says he's buying

Dogecoin cryptocurrency physical coin held between two fingers.

Dennis Diatel Photography/iStock Editorial via Getty Images

  • Dogecoin (DOGE-USD) spikes 9% on Sunday after Elon Musk said he's buying the cryptocurrency and will "keep supporting" it.
  • Musk's tweet, expressing support for the token that started out as a joke, comes after a dogecoin investor had filed a lawsuit against the billionaire seeking $258B and alleging that Musk is running a pyramid scheme.
  • Dogecoin (DOG-USD) jumped to a peak of $0.64 in May 2021 during a broader crypto surge and during the meme stock frenzy. Recently, it traded at about $0.06.
  • In the broader crypto market, bitcoin (BTC-USD) rose 2.9% to $19.5K, ethereum (ETH-USD) +5.0% to $1.04K, litecoin (LTC-USD) +14% to $1.03, Binance coin (BNB-USD) +4.4% to $208.47, solana (SOL-USD) +8.8% to $32.38.
  • In May 2021, Dogecoin jumped 30% after Musk tweeted that he was working with DOGE developers to improve system transaction efficiency.

Recommended For You

Comments (112)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.