Crypto markets spike despite trad stock downturn as Doge pumps on Musk's Twitter purchase | The Crypto Mile Weekly Update

Crypto markets spike despite trad stock downturn as Doge pumps on Musk's Twitter purchase | The Crypto Mile Weekly Update

On this episode of The Crypto Mile Weekly Update our host Brian McGleenon gives a breakdown of the latest in the world of cryptocurrencies.

Bitcoin, the world's premier digital asset, made a bullish move despite a downturn in tech stocks, which it usually correlates with.

Ethereum soared even higher, seeing a weekly gain of over 20%.

And lastly, Friday's finalisation of Elon Musk's Twitter purchase has been a catalyst for a memecoin breakout with dogecoin leading the charge.

According to Musk, his Twitter acquisition is "important to the future of civilisation".

Dogecoin, which acts as a proxy for the Tesla CEO's approval rating, shot up by over 30% this week.

The fervour around dogecoin reverberated outwards to infect the legion of memecoin communities from the Shib Army rank and file to the marginal groups that clutch zombified tokens that litter the floor of the crypto-arena.