Dogecoin soared Friday after a tweet from supporter Elon Musk, and as Coinbase said it would list the meme-inspired cryptocurrency.
The price of dogecoin climbed to an intraday high above 56 cents in early morning trade, according to Coin Metrics data. As of 10:30 a.m., dogecoin was up 39.4% at 54 cents per coin, on track for its best day since Apr. 16. It’s still down about 20% from a record high of nearly 67 cents only a week ago.
Musk tweeted Thursday that he was working with dogecoin developers to improve the efficiency of transactions.
