Dogecoin price spiked by 8% in last 24 hours

Dogecoin has been rallying over today’s trading session, following the general sentiment in the market and receiving support from its biggest advocate Elon Musk. The entrepreneur and CEO of Tesla and SpaceX confirmed a deal to purchase social media Twitter (TWTR).

Dogecoin currently holds the number 10 spot of all cryptocurrencies by market capitalisation. It currently has a market capitalisation of just over $11 billion with over 132 billion DOGE coins circulating in supply.