Dogecoin shoots higher as Musk calls himself, ‘The Dogefather’

Dogecoin rose as high as 34 cents, and recently rose 21%, after Tesla Chief Executive Elon Musk gave another tweet endorsing the cryptocurrency. He plugged his upcoming Saturday Night Live performance by calling himself the “Dogefather.” Musk has often tweeted favorably about dogecoin and cryptocurrencies more generally, though Tesla did profit by more than $100 million from selling bitcoin in the first quarter.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.