Doge is the 'people's crypto'- Elon Musk
In a recent tweet, Elon Musk has called Dogecoin (DOGE) the 'people's crypto'.
Elon Musk tweeted: "That’s why I decided to support Doge – it felt like the people’s crypto." The meme coin has seen an increase in popularity recently as Musk has shown his support for the coin publicly. However, Dogecoin is still around 63% away from its lifetime peak despite Musk's attempts to send the meme coin soaring.
SHIB Competes with DOGE
Competing meme coin, Shiba Inu (SHIB) has recently skyrocketed over 500% and has recently taken the lead ahead of Dogecoin. Elon Musk took to Twitter to say that he isn't holding any SHIB, only DOGE. Shiba Inu tweeted 'Hey @elonmusk How Much Shib You Are Holding!' to which the businessman replied 'None'.
Puppy Post Boosts SHIB
Musk shared an image of his puppy a few days ago which helped to boost SHIB up the market ranks, but after he has admitted not owning any SHIB, the meme coin is reportedly down 15%.
Dogecoin has been struggling to keep up with Shiba Inu, but is now up 12% in the last week thanks to Musk's tweet.
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Author: Moni Talks
Moni Talks is a cryptocurrency trading exchange and social platform that is dedicated to the crypto community.