'I Will Keep Supporting Dogecoin,' Said Elon Musk One Summer— Here's How Much DOGE Has Gained Since Then
Portfolio Pulse from Mehab Qureshi
Elon Musk reaffirmed his support for Dogecoin (DOGE) in June 2022 amidst a lawsuit accusing him of running a 'Dogecoin Crypto Pyramid Scheme'. Since his endorsement, Dogecoin's value has doubled from $0.060 to $0.12, marking a 100% increase. Dogecoin is now the 10th largest cryptocurrency with a market capitalization of $18.3 billion.
February 29, 2024 | 11:47 am
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Dogecoin's value has doubled from $0.060 to $0.12 since Elon Musk's endorsement in June 2022, amidst legal challenges accusing him of inflating DOGE's value.
Elon Musk's public support for Dogecoin, especially during legal scrutiny, likely contributed to positive sentiment among investors, driving up its value. The doubling of Dogecoin's price since Musk's endorsement indicates a strong market response to his influence.
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IMPORTANCE 90
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