The cryptocurrency market has recovered significantly in the last few weeks, with most prices jumping in the last week alone. Overall, the cryptocurrency market has risen 2.08% in the past 24 hours and market capitalization broke the $ 2 trillion mark for the first time. While the big cryptos like Bitcoin and Ethereum are moving in a stable upward trend, Elon Musk’s most popular crypto currency, Dogecoin, has increased by over 10% in the last 24 hours. Thus, Dogecoin has risen above 30 cents for the first time since mid-June.
Dogecoin rises above 30 cents for the first time
The former joke currency has gained over 10.67% in the last 24 hours and is currently trading at 0.29 euros (0.3369 US dollars). The currency thus climbed above the 30 US cent mark per token for the first time since mid-June. The reason for this is of course “Dogefather” Elon Musk and the billionaire investor Mark Cuban.
Mark Cuban, owner of Dallas Mavericks, recently described Dogecoin as the “strongest cryptocurrency” as a means of payment. He is referring to the sales of the Dallas Mavericks organization, which have increased significantly due to the introduction of Dogecoin.
Mark Cuban says dogecoin is the ‘strongest’ cryptocurrency as a medium of exchange (via @CNBCMakeIt) https://t.co/EoOCJ3aIll
– CNBC (@CNBC) August 13, 2021
Accordingly, Cuban sees Dogecoin as the best payment method and Tesla CEO and Dogecoin fan Elon Musk agrees with him. Elon Musk commented on the tweet about Mark Cuban and said he had “been saying this for a while”.
Buy Dogecoin: Now comes the rally
Driven by Elon Musk and Mark Cuban, Dogecoin has risen in the last 24 hours accordingly, one can now assume that the rally will come from Dogecoin. Even if the currency was developed as a heavy currency and it was never intended to be taken seriously, Dogecoin was able to establish itself as a versatile crypto currency. Because Dogecoin could even be stronger and better than Bitcoin as a means of payment for goods and services.
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While Dogecoin soared in May and rose in some cases over 70, the currency plummeted by over 70% during the crypto crash. However, Dogecoin has been able to recover significantly in recent weeks. Compared to last year, the cryptocurrency has even increased by an incredible 10,000%.
Buy Dogecoin: is it worth getting started?
It can be assumed that Dogecoin will now gain even greater acceptance on a global level. The fact that DOGE is now accepted as a means of payment underscores this. Even if you couldn’t foresee that the former joke currency would become a digital currency, it is becoming increasingly popular. If you follow Mark Cuban or Elon Musk, buying Dogecoin is always worthwhile.