Dogecoin jumps on Elon Musk tweet as wild cryptocurrency buying and selling continues

Host Elon Musk during the monologue on Saturday May 8th 2021.

Will Heath | NBCUniversal

Dogecoin price soared Thursday morning after Tesla CEO Elon Musk mentioned the coin on Twitter, adding another chapter to the volatile history of a cryptocurrency that started as a joke.

The price of the digital coin rose 11% to around 40 cents just before 7 a.m. CET following the Musk tweet.

“How much does that doge cost in the window?” Musk wrote on Twitter.

The Thursday move comes after a wild day for cryptocurrencies on Wednesday, with Bitcoin, Ether and Dogecoin plummeting before some of those losses were reclaimed later in the day.

Dogecoin jumps on Musk Tweet

Musk speaks and posts frequently about Dogecoin, saying earlier this month that he is working with developers to improve cryptocurrency. He also referred to it as the “Hustle” on Saturday Night Live and said its value at the time was largely speculative.

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