AI Coins, Dogecoin Lead Crypto Market Rebound as Elon Musk Lauds Nvidia CEO

The crypto market kicked off the new year with a strong rebound, led by AI coins and Dogecoin (DOGE). The total crypto market cap jumped nearly 2% to $3.1 trillion over the past 24 hours. The gains come as Elon Musk praised Nvidia CEO Jensen Huang.

Elon Musk-Nvidia CEO Exchange Praise

Elon Musk replied to DogeDesigner‘s X post in which Nvidia CEO Jensen Huang praised Musk and the Tesla Optimus humanoid robot. He said “Jensen rocks!,” sparking speculation in the AI coins and Dogecoin communities.

In a recent interview, Nvidia CEO mentions Elon Musk as “extraordinary engineer” and highlighted that they will continue to work together. He highlighted that the Optimus robot is right around the corner for high-volume production.

In October, Nvidia CEO Jensen Huang appeared on CNBC’s “Squawk Box” and said “he wants to be part of almost everything Elon Musk is involved in.” He discussed details of the company’s latest $2 billion investment in Elon Musk’s xAI as part of the $20 billion financial round.

Earlier, Huang remarked Elon Musk as “the most world-class builder we have in the country.” Positive interactions between Elon Musk and Nvidia CEO have historically sparked short-term pumps in Dogecoin and AI coins due to community hype around AI-crypto convergence.

AI Coin and Dogecoin Surge

Top AI coins such as Chainlink (LINK), Bittensor (TAO), Near Protocol (NEAR), Story (IP) and Render (RNDR) rebounded significantly amid Elon Musk’s praising Nvidia CEO. Story (IP) jumped more than 32% to $2.22 over the past 24 hours, extending its weekly rally to over 52%.

Filecoin, IP, RENDER, INJ, and TURBO posted double-digit gains in the past 24 hours. Analysts attribute the rally to growing institutional interest in AI-blockchain convergence, with decentralized computer networks and AI agents gaining traction.

Bittensor (TAO) jumped 8%, with the price currently trading at $235. The 24-hour low and high are $220.02 and $237.69, respectively. Furthermore, trading volume has increased further by 7% over the last 24 hours amid buzz around the Grayscale Bittensor ETF filing with the U.S. SEC.

Meanwhile, Dogecoin skyrocketed more than 8% over the past 24 hours, currently trading at $0.1275. The intraday low and high are $0.1181 and $0.1289, respectively. Trading volume has jumped by more than 35% over the last 24 hours.