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2/10, 4:52 PM (Source: TeleTrader)
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Dogecoin jumps as Musk announces purchase

Tesla's founder Elon Musk tweeted on Wednesday about his additional purchase of Dogecoin cryptocurrency, hinting it would be for his son called X Æ A-Xii. "Bought some Dogecoin for lil X, so he can be a toddler holder," Musk said.

Musk has advocated through Twitter for Dogecoin multiple times as he shared his strong support for all kinds of cryptocurrencies, including Bitcoin, which he acquired for his Tesla company the day before. Besides Elon Musk, Dogecoin was also recently backed by Snoop Dogg and Gene Simmons.

Dogecoin rallied after Musk's announcement and peeked at $0.081. At 10:52 am ET Dogecoin jumped 7.66% to sell for $0.075.

Breaking the News / LH