Dogecoin Rises Rises By 17% After Elon Musk Tweet
Dogecoin is up by more than 17% in the last 24 hours despite an overall slump in the crypto market
The rise of coin followed a tweet by Tesla CEO Elon Musk where the billionaire revealed that his son is still holding his doge
Musk had previously revealed that he bought some doge for his son earlier this year and the billionaire holds some for himself
Meme cryptocurrency Dogecoin is up by 17% in the last 24 hours following support from Tesla CEO Elon Musk.
The billionaire posted on Twitter that his son is still holding his doge “like a champ”.
Musk posted this reply to a dogecoin fan account and claimed that he has never said the word “sell” in relation to the cryptocurrency.
Earlier this year, Elon Musk revealed that he bought some dogecoin for his son X Æ A-12 so he can be a toddler holder.
The billionaire has also claimed that he owns some of the memecoin but he did not state how much he owned.
This tweet follows a long line of tweets in 2021 where Elon Musk has shown support for the cryptocurrency, driving its price up in the process.
Read also: Why Elon Musk Hates Being Tesla CEO
Meanwhile, the rest of the crypto market is in the red as the major cryptocurrencies are down from yesterday.
Bitcoin is trading at $31,800 a drop of 0.2% while Ethereum and BNB are down to $1,903 and $302 respectively.