Dogecoin jumps 40% on Elon Musk’s cryptic endorsement

Crypto currency Dogecoin achieved some positive move on the road to recovery and jumped up Friday as traders are assessing feasibility and impact of its addition on Coinbase, one of the world’s leading crypto exchanges.

The SHIB/USDT exchange rate rose up to 16.42% to USD 0.00000950 for the first time since June 29, 2021.

The latest high came as a part of an overall crypto bullish trend that started Thursday, as SHIB rallied by more than 26%. As a result, Dogecoin ended up pushing its returns up by over 40% in only two days of trading sessions.

Gains for SHIB started emerging after Elon Musk, CEO of Tesla, announced on Twitter the arrival of a new Shiba Inu puppy called Floki last Monday. Musk’s announcement was followed up with a modest 2.62% spike in SHIB/USDT rates in the next session, as an additional proof of Musk’s continued influence on a family of dog-featuring tokens, including Dogecoin (DOGE), BabyDoge and Floki Inu.