Elon Musk sparks crypto rallies with tweets on Aptos and Dogecoin

Elon Musk, the tech billionaire, is once again stirring up the crypto community with his tweets, this time with references to two digital assets that he’s putting on a rally. In a tweet that he later deleted but was screen recorded by CoinGecko, Musk mentioned the layer-1 protocol Aptos (APT), causing the Ethereum (ETH) competitor’s price to surge.

The tweet, which simply said “AI APT OTT,” pushed the proof-of-stake protocol from a 24-hour low of $12.27 to $13.40, representing a 9.2% increase in just a few hours. However, the coin has since retraced and is currently trading at $12.33.

Musk also responded to a meme created by a Dogecoin (DOGE) graphics artist that depicted him wearing a hard hat and appearing to be working in a mine. The DOGE developer was addressing reports that Musk previously owned an emerald mine in the post, offering media outlets money in DOGE if they can provide proof of its existence.

Musk responded, “Elon Musk was never the owner of an emerald mine. An open offer of 69.420 DOGE to all media outlets who spread misleading information. Send me confirmation of its existence, and I’ll give you your DOGE.” He went on to say that he would pay even more in DOGE for proof of the mine’s existence.

These tweets caused Dogecoin to temporarily rise from $0.0868 to $0.0912, a 5% increase. However, DOGE has since retreated and is now trading at $0.0869 at the time of writing.

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