Cryptocurrencies assets from Bitcoin and Ethereum to Dogecoin and Maker have increased in the past few days.
Dogecoin, Cardano, Vechain and Ripple's XRP were the best performing coins of the week.
Dogecoin is suspected of rising because of the TikTok video, which officially prompts traders to judge rationally.
Recently, Intezer's cybersecurity researchers discovered a new type of malware that relies on the Dogecoin blockchain network to attack cloud servers. The malware, called Doki, is deployed through a botnet called Ngrok, allowing an attacker to take control of a specific user's Dogecoin wallet.
Dogecoin's latest development comes just days after Safepal announced its support for Dogecoin. The announcement was made on 15 October 2019. The official statement read: "SafePal now officially supports Dogecoin! "According to SafePal's statement, they claim to be the first hardware wallet to be supported by Binance Labs.
Dog Money (DOGE) is a popular cryptocurrencies in the coin circle. Launched in 2013, this Litecoin fork has a joke component. And the result of DOGE is a huge success.
Bitcoin cash, Dogecoin, Ethereum and Ripple.
Popular implementations: Bitcoin, Ethereum, Litecoin, Dogecoin, (mostly)
This isn't the first time Musk has shown a love for Dogecoin. He had previously changed his Twitter resume to show that he was the CEO of Dogecoin, and had posted a message on Twitter that "put dog money at the wizard" and deleted it shortly afterwards.
Dogecoin, the internet's favourite Mim coin, continues to run counter to expectations that are often associated with jokes. Indeed, since the Black Thursday crash in March, DOGE appears to have shown a significantly better upward trend than most alternatives, a trend that continues to plague most market analysts. Interestingly, DOGE is already climbing without a Bitcoin boost compared to other alternatives, with DOGE recording nearly 10% of earnings in the past week.