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Dogecoin has surged 24% in a month, outperforming major cryptos on Elon Musk’s antics

Dogecoin has surged 24% in a month, outperforming major cryptos on Elon Musk's antics

According to Messari, Dogecoin has jumped 24% in the past month.

The coin’s price often fluctuates on Twitter and comments from Tesla CEO Elon Musk.

In a recent tweet, a Tesla executive offered 1 million dogecoin to anyone who could prove his family owned an emerald mine.

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Dogecoin has jumped 24% in the past month on Elon Musk’s actions related to the meme token, leading to a broader rally in the cryptocurrency market.

According to Messari, the crypto posted gains of 6% on Monday.

The winning streak for the coin was halted a few weeks ago as Twitter briefly changed its blue bird logo to a Shiba Inu, a nod to Dogecoin’s mascot. Dogecoin surged nearly 20% on the day Musk’s social media platform changed the logo.

When Insider contacted for comment on the matter, Twitter’s press email auto-replied with a single poop emoji.

In early April, Musk’s lawyers also requested the dismissal of a $258 billion lawsuit that claimed the billionaire manipulated the price of Dogecoin and inflated it by more than 36,000%. Kasturi’s lawyers have called the allegations a “fictitious work of fiction,” according to court filings.

Meanwhile, last week a SpaceX exec offered 1 million dogecoin, worth about $90,000 at its current price, for evidence that he or his family once owned an emerald mine. , The reward was in response to media reports that claimed his father had a stake in an emerald mine in South Africa when Musk was a child.

Dogecoin’s growth over the past month has outpaced major coins such as Ethereum and Bitcoin, which have jumped over 9% and 17%, respectively.

The digital asset rallied amid Ethereum’s much-anticipated network upgrade, which sent the crypto to an 11-month high, as well as hopes among market players that the Federal Reserve would soon end its aggressive campaign to tighten monetary policy.

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