Cryptocurrency Dogecoin grew by 10% after public support from Elon Musk

Elon Musk continues to prove that he still has the power to influence the market price of cryptocurrencies — this time he helped Doge memocoin grow.

After a recent tweet in which the SpaceX and Tesla founder announced that he was buying Dogecoin, the coin’s price jumped by 10%.

Musk posted this message despite the fact that he is facing legal action for publicly supporting Dogecoin. This is not new for the entrepreneur, as he was previously warned about this possibility.