An endorsement by Twitter CEO Jack Dorsey has seen the value of joke cryptocurrency Hamstercoin rise sharply to challenge Dogecoin.
In a tweet made on Wednesday, Mr Dorsey suggested Hamstercoin is better than both Ether and Elon Musk’s cryptocurrency Dogecoin.
His tweet was a response to a tweet stating that the biggest threat to Ethereum is Dogecoin.
Since the tweet, Poocoin records that, the HAM rose by nearly 252 per cent from its 24-hour low of $0.0000000002463 to a high of $0.0000000008669, and stands at $0.0000000009381 as the time this report was filed.
These comments come after Tesla CEO Elon Musk tweeted that Ethereum creator Vitalik Buterin was afraid of the meme token, Dogecoin (DOGE). The tweet has since been deleted.
The Hamster token was launched on Binance Smart Chain and powered by Binance Coin, with goals to provide traders with financial freedom and help them avoid negative market fluctuations.
Meanwhile, Elon Musk has thrown his support behind another token from the Dogecoin community, called Baby Doge.
The tweet from Mr Musk caused the price of the coin, trading as BABYDOGE,to rise.
According to the Coinmarketcap website, “Baby Doge Coin has learned a few new tricks and lessons from his meme father, Doge… Baby Doge seeks to impress his father by showing his new and improved transaction speeds and adorableness.”