Dogecoin’s price rose, on Wednesday, April 28, after a post Tweets Tesla founder Elon Musk and owner and director of the Dallas Mavericks, Mark Cuban.
Dogecoin’s value has risen 20% in the past 24 hours to $ 0.32, according to data from Coin Metrics. The meme-inspired cryptocurrency hit a record high above $ 0.45 earlier this month. However, the value actually fell 8.3% to $ 0.31.
It started out as a joke in 2013, but Dogecoin is now the sixth largest cryptocurrency with a combined market value of nearly $ 42 billion (€ 34.72 billion). The name and brand came from the meme “Doge,” which stands for the Shiba Inu dog that usually appears next to the phrases on social networks.
In the past, the price of Dogecoin rose after Elon Musk’s tweets. Tesla’s billionaire CEO considers dogecoin his “favorite” cryptocurrency and refers to it as “people’s crypto”.
This time, Elon Musk wrote on Twitter: “Dogefather SNL 8 de Maio,” referring to Elon Musk’s presence on Saturdary Night Live next week.
SNL May 8
Elon Musk (@elonmusk) April 28, 2021
However, Musk wasn’t the only person to talk about the Dogecoin. Mark Cuban, owner of the Dallas Mavericks Basketball Club, has published several articles on the topic. On Monday, the businessman announced that his team is close to completing 6,000 transactions with Dogecoin in April.
Then Mark Cuban wrote on Twitter that “the dog is the only currency people actually use in transactions.”
Because Doge is the only currency people actually use in transactions. We take many others across Embed a Tweet . But people are dying out Doge and that means more companies will start taking it. The biggest barrier to his growth is that you can’t spend the Doge that you buy on Robinhood https://t.co/TrhT9pYkcb
Mark Cuban (mcuban) April 26, 2021