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Dogecoin price surges after tweets from Elon Musk and Mark Cuban

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Yuriko Nakao | Getty Images News | Getty Images

LONDON — Dogecoin skyrocketed on Wednesday after receiving some celebrity endorsements on Twitter.

Dogecoin’s price has soared 20% in the last 24 hours to 32 cents, according to data from Coin Metrics. The meme-inspired cryptocurrency hit a record high above 45 cents earlier this month, sparking fears of a potential bubble in the crypto market.

Initially started as a joke in 2013, dogecoin is now the sixth-largest digital coin with a total market value of almost $42 billion, according to CoinGecko. It takes its name and branding from the “Doge” meme, which depicts a Shiba Inu dog alongside nonsensical phrases in multicolored text.

It has…



Source cnbc.com

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