Dogecoin is once again on an upward trend after Tesla’s Elon Musk shared “potentially promising” inside information for the network on Twitter.
According to the post made by Musk late Thursday evening, Tesla and its CEO are “in work with Doge” developers to “enhance system transaction efficiency.”
The DOGE rate across bigger exchanges such as Binance, FTX, Bitfinex, Gemini and Poloniex are scoring around 24% gains in the last 24-hour period for the meme digital asset inspired by the Shibu Inu dog breed. The cryptocurrency is, at the time of writing, being traded for around $0.49. The rise comes even as other leading cryptocurrencies are currently on the back foot.
In the meantime, U.S. crypto exchange Coinbase declared it would add Doge to its collection of crypto offerings, perhaps due to user demand as has been the situation with other major exchanges.
We remind that the investment impetus of Elon Musk and his company has previously driven even larger cryptocurrencies to conquer new heights.
