Dogecoin and Shiba Inu have shown a strong comeback since Elon Musk came out in support of the former on Sunday.
Some facts:
- According to data from CoinMarketCap, Dogecoin is up more than 15% in early trading on Wednesday in Asia.
- Memcoin surged to a 24-hour high of $0.06932 before cutting back on early gains to rise 5.4% to $0.06327.
- Memecoin Shiba Inu rose more than 20% to $0.000009805 in early trading on Wednesday. It was last up 3.6% to $0.02855.
- “I will continue to support Dogecoin,” Elon Musk, a longtime supporter of Memcoin, said on his verified Twitter account on Sunday.
- Musk’s tweet comes after a class-action lawsuit was filed against the CEO of Tesla and SpaceX for manipulating the price of Dogecoin.
- Bitcoin traded largely unchanged at $20,463.70, while Ethereum was down 1.6% to $1,103.41 at press time.
- The total market capitalization of cryptocurrencies remains below the $1 trillion mark and was last trading at around $902.54 billion at press time.