Doge coin jump over 200% in one day.

Dogecoin is having a moment. The cryptocurrency that was designed as a joke saw its value surge 200% in early trading Friday. And for the week, it’s up more than 570%.

Despite reports that Reddit’s r/WallStreetBets was part of the reason behind the spike, that seems unlikely. Instead, it’s Elon Musk who can once again take credit.

The creator of r/WallStreetBets today banned all discussion of cryptocurrencies after seeing reports that it was relaxing its existing rule forbidding posts about digital currency. It was a stark reminder that the group prefers to keep its focus on stocks, with GameStop remaining a favorite.