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Dogecoin Hits Another Record After Musk, Snoop Dogg Tweets

  • Market value of much joked-about token touched $10.5 billion
  • Bitcoin surges to record high after Tesla discloses purchase
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Dogecoin, the tongue-in-cheek cryptocurrency featuring a Shiba Inu dog as a mascot, briefly touched a record Monday after billionaire Elon Musk, rapper Snoop Dogg and Kiss bassist Gene Simmons tweeted about it.

The token climbed to a peak of about 8.2 U.S. cents and a market capitalization of $10.5 billion Monday before pulling back, according to pricing data from CoinGecko. The coin was ranked among the top 10 cryptocurrencies by market value, the figures showed. Bitcoin surged to a record after Tesla Inc. disclosed that it had purchased $1.5 billion of the cryptocurrency.