Dogecoin’s price soared as high as 56 cents early Friday, according to Coin Metrics data.
Elon Musk tweeted that he was working with dogecoin developers to improve the efficiency of transactions.
Crypto exchange Coinbase said it would offer dogecoin support in the next six to eight weeks.
Dogecoin soared Friday after a tweet from supporter Elon Musk, and as Coinbase said it would list the meme-inspired cryptocurrency.
The price of dogecoin climbed to an intraday high above 56 cents in early morning trade, according to Coin Metrics data. As of 10:30 a.m., dogecoin was up 39.4% at 54 cents per coin, on track for its best day since Apr. 16. It’s still down about 20% from a record high of nearly 67 cents only a week ago.
Musk tweeted Thursday that he was working with dogecoin developers to improve the efficiency of transactions.