Dogecoin Rises 12% After Musk Reconfirms Support; Bitcoin Recovers

The global crypto market bounced back after falling aggressively for the past few weeks. As of early morning trade Bitcoin was up by 8 per cent, Ethereum by 13 per cent and Binance by 8 per cent.

Elon Musk confirms on Twitter that he is still supporting Dogecoin (DOGE) and continues to buy it. He also said that currently Tesla and SpaceX merchandise can be bought for DOGE but he is working on bringing more use cases for DOGE in the coming months.

Following this Tweet post by Elon Musk, Dogecoin jumped by 12.05 per cent at $0.05818, as at 8.50 am, as per Coinmarketcap data.