Elon Musk after declaring on Twitter that he will “keep supporting Dogecoin” price increased 8% to $0.050
The tweet came about after an exchange with a user who told Musk that he should buy the “joke” coin if he supports it. To which the billionaire responded “I am” suggesting that he’s buying the dip
CEO of Tesla who was hit by a $258 billion lawsuit last week over his support of Dogecoin is sticking with the crypto and not turning his back on it.
Some market observers see this stamp of confidence in the crypto market as an ideal opportunity to buy cryptocurrencies while they are cheap.
The 5.8 cents spike is a far cry from the 72 cents Dogecoin reached in May 2021, when Musk hosted “Saturday Night Live” and the dog-themed crypto got a mention in his opening spiel.
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