Tweets from Elon Musk and celebrities send dogecoin to a record high – By Ryan Browne (CNBC) / Feb 8 2021
- Dogecoin rallied 65% in 24 hours to a record high of $0.083745 on Sunday, according to data from CoinMarketCap.
- Dogecoin, based on the “doge” meme, was initially started as a joke but has since gained a following.
- Elon Musk, Snoop Dogg and Gene Simmons have tweeted about the cryptocurrency recently.
LONDON — Dogecoin is surging after billionaire Elon Musk and a number of celebrities appeared to back the cryptocurrency on Twitter.
The meme-inspired token rallied 65% in 24 hours to a record high of $0.083745 at 5:30 p.m. ET on Sunday, according to data from CoinMarketCap. As of 5 a.m. ET Monday, dogecoin was up 25% at a price of $0.07415.
Dogecoin’s stellar run has boosted its market value to over $9.5 billion — it briefly hit a high of $10.7 billion Sunday — making it the No. 10 digital coin on CoinMarketCap’s ranking.
At its intraday peak Sunday, trading volume in dogecoin had reached around $13.5 billion in the last 24 hours.
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