Dogecoin Up 12% After Musk Support Tweet

The global crypto market bounced back after falling aggressively for the past few weeks.

Elon Musk confirmed on Twitter that he is still supporting Dogecoin (DOGE) and continues to buy it.

He also stated that while Tesla and SpaceX items may presently be purchased with DOGE, he is working on adding more DOGE use cases in the coming months.

Following Elon Musk's Tweet, Dogecoin increased by 12.05 percent to $0.05818, as of 8.50 a.m., according to Coinmarketcap statistics.

The global crypto market capitalisation went up by 6.78 per cent to $875.27 billion as of 8.50 am.

However, the global crypto volume was down by 11.2 per cent to $79.17 billion, as per Coinmarketcap data.

Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $19,899.93, higher by 8.09 per cent in the last 24 hours.