The cryptocurrency market has kicked off the new year with a strong rally, led by AI-related coins and Dogecoin (DOGE). The total crypto market cap surged by nearly 2% in the past 24 hours, reaching $3.1 trillion. The gains follow praise from Elon Musk directed at Nvidia CEO Jensen Huang.
Mutual Praise Between Elon Musk and Nvidia’s CEO Sparks Buzz
Elon Musk responded to a post by DogeDesigner on X, where Nvidia’s CEO Jensen Huang praised Musk and Tesla’s humanoid robot Optimus. Musk replied, “Jensen is super!”, sparking speculation in AI and Dogecoin communities.
In a recent interview, Huang called Elon Musk “an extraordinary engineer” and confirmed their ongoing collaboration. He emphasized that Tesla’s Optimus robot is close to entering mass production.
“It’s highly likely that humanoid robots will be the type we can deploy into the world relatively easily. This is the first robot with a real chance of achieving high volume and the technological scale needed for advancement. I believe it could become a multi-trillion-dollar industry,” said Huang.
In October, Huang appeared on CNBC’s “Squawk Box” and stated, “I want to be part of almost everything Elon Musk is involved in.” He mentioned Nvidia’s $2B investment in Musk’s xAI during a $20B funding round.
Huang previously described Musk as “the most hardcore crypto creator we have in this country.” Positive interactions between Musk and Nvidia’s CEO have historically triggered short-term spikes in Dogecoin and AI-related cryptos due to community excitement around the convergence of AI and blockchain.
Surge in AI Coins and Dogecoin
Top-performing AI cryptocurrencies like Chainlink (LINK), Bittensor (TAO), Near Protocol (NEAR), Story Protocol (IP), and Render (RNDR) all saw major rebounds after Musk’s comment.
Story (IP) surged more than 32% in 24 hours to $2.22, pushing its weekly gain above 52%. Filecoin, IP, RENDER, INJ, and TURBO also posted double-digit increases. Analysts attribute this rise to growing institutional interest in the convergence of AI and blockchain, with decentralized compute networks and AI agents gaining popularity.
Bittensor (TAO) jumped 8% to $235, with a 24-hour range between $220.02 and $237.69. Trading volume rose 7% amid buzz around Grayscale’s Bittensor ETF application with the SEC.
Meanwhile, Dogecoin soared over 8% in 24 hours and now trades at $0.1275. The daily low and high are $0.1181 and $0.1289, respectively, with a 35% increase in trading volume.
#ElonMusk , #Dogecoin , #aicoins , #LINK , #TAO
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