Musk's Support For Dogecoin Grows Stronger

Billionaire Elon Musk pledges his support for meme-based Dogecoin against all the odds. Even the cryptocurrency's falling value and a $258 billion lawsuit in an alleged dogecoin ‘pyramid scheme did not discourage Musk.

The tweet led Dogecoin to become the top percentage gainer amongst the top ten crypto assets in the past 24 hours, gaining 6.12%. It had a market cap of $7.6 billion around the same time.

This comes against the background that Dogecoin’s value has been on the decline the past year, standing at $0.058 per coin Sunday, from a peak of $0.64 in May.