Cryptocurrency Dogecoin has made its surge above 50% on Thursday as the billionaire, Elon Musk, came up with his tweet in support of it after he said that he wants to take a break from Twitter for a while.
Dogecoin has made its jump more than $0.05798, according to reports. Musk first came up with his tweet about “Doge” and followed it up immediately with “Dogecoin is the people’s crypto.”
The tweet of the Tesla chief about certain companies and cryptocurrencies has led to soaring prices in the current weeks. The shares in GameStop, CD Projekt, and Etsy have made their jump with the following comments on his Twitter account about the currency.
The #bitcoin tag on his Twitter bio allowed the popular currency, bitcoin, to fly high from last Friday. However, he has taken the tag off.
On the other hand, the rival cryptocurrency Ethereum is also setting its record spree as the investors are buying it before launching the Ethereum futures on the Chicago mercantile exchange from next week.
Ethereum has made its rise to a record high near $1,698.56. However, it gave up some of those gains to the trade with 2.7% lower in the earlier London.
Ethereum has made its record high to $1698.56 before the trading. Bitcoin is the most popular cryptocurrency, which has fallen by 1.2% to $37184.
Cryptocurrencies are getting traction along with various mainstream investors. The euphoria has given a boost to the total market value of all cryptocurrencies above the valuation of $1 trillion for the first time in the earlier of January.
It is quite noticeable how a single tweet from a billionaire can boost up the trading of cryptocurrencies. However, various investors are among the list who are adding a quick boost to the price of the most talked-about cryptocurrency, Dogecoin.