Dogecoin (DOGE) surged more than 50% on Thursday morning to trade around $0.059 per coin.
He continued with a string of tweets describing the cryptocurrency as the “people’s crypto” adding, “No highs, no lows, only Doge.”
Such erratic price action is fairly standard for the cryptocurrency. On Jan. 29 DOGE surged more than 800% to about $0.082 per coin, apparently triggered by attention from the Reddit trading groups like WallStreetBets along with a TikTok post about the "dogecoin army" by niche celebrity Carole Baskin from Netflix's "Tiger King."
DOGE, which was started as a joke in 2013, is now the 12th most valuable cryptocurrency by market value, according to CoinMarketCap.
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