Elon Musk Tweet Sends Dogecoin Rocketing 13% Higher

Elon Musk is at it again, boosting the value of (arguably) his favorite cryptocurrency Dogecoin (CRYPTO: DOGE) by 13.3% as of 10 a.m. ET.

Today, the Tesla CEO announced on Twitter that "Tesla merch buyable with Dogecoin." Early reports suggest consumers will only be able to use Dogecoin to buy two items from the Tesla website: a belt buckle made to commemorate Tesla's gigafactory in Texas and a Tesla cyber-truck-themed whistle.

At the height of today's Musk-driven spike, Dogecoin moved more than 25% higher immediately following the tweet.

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Source Fool.com