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Thursday, June 8, 2023

Elon Musk Triggering Crypto

Binance Coin (BNB) has been rising sharply and is close to its record high against the U.S. dollar (USD). The cryptocurrency has been surging in the past 24 hours as it hit an all-time high at 0.0014 BTC, according to data from Cointelegraph Markets Pro and TradingView.

Meanwhile, crypto exchange Binance’s native token BNB is on a tear, hitting a new all-time high in Bitcoin terms as Elon Musk’s tweets helped push Dogecoin to fresh highs. With Tesla founder Elon Musk publicly supporting Dogecoin (DOGE), the cryptocurrency is having a sharp rally over the past 24 hours, rising more than 30% to hit $0.7.”

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Elon Musk’s tweets on Dogecoin have triggered a surge in the cryptocurrency’s price, which was last seen trading at $0.007351.

Musk tweeted that he would like to buy some Dogecoin as a joke, but may have accidentally helped the meme-based coin reach its all-time high.

Elon Musk Hopes For Good Times

Elon Musk is a big supporter of Dogecoin (DOGE), it appears. The Tesla founder, who has been vocal in his support for cryptocurrency adoption and even created a Twitter account for his company’s new coin with the handle @TeslaCrypto, recently posted on Twitter that he had bought some DOGE as well.

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The post made waves in the community and sent the price of Dogecoin skyrocketing by over 30% within 24 hours. At press time, one DOGE token is trading at $0.7 on major exchanges like Binance, Huobi Global and HitBTC — an all-time high for the four-year old cryptocurrency that started as a meme but has since become an officially recognized means of payment by Japan’s largest crypto exchange Bitflyer.

The Binance Coin (BNB) is on the rise after breaking above its previous all-time high against the U.S. dollar (USD). The cryptocurrency, which is issued by Binance exchange operator, rose from $833 to $848 in just a few hours on May 11. Meanwhile, Dogecoin (DOGE) has been rallying for two days in a row now and is also approaching its record high against Bitcoin (BTC).

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