The prices of Bitcoin and cryptocurrencies surged across the board over the past week, with the combined market capitalization of cryptocurrencies once again topping the $ 2 trillion mark.
A somewhat satirical meme-based dogecoin price: This year it was adopted as a pet project by Tesla.
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The Dogecoin Rise Comes Next Mark Cuban, billionaire tech investor and owner of the Dallas Mavericks Dogecoin was described as the “strongest” payments cryptocurrency, and Musk later agreed.
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“[Dogecoin is] An intermediary that can be used to purchase goods and services. CNBC this week. “The Doji community is the strongest when it comes to using it as a medium of exchange.”
Musk responded via, “I’ve been saying this for a while.” Twitter.
Musk and Cuban have repeatedly voiced support for Bitcoin’s meme-based rival, dogecoin in recent months, with Cubans accepting dogecoin as payment for the Mavericks’ products in March, and Musk’s rocket company SpaceX plans to make a “DOGE-1 Mission to the Moon” early next year. .
This Cuban week announce Your Texas basketball team will offer “special rates” for dogecoin payments as part of the Mavericks summer sale.
Dogecoin price, after climbing to more than 70 cents in May on the back of a Musk and March effects, plunged more than 70% before recovering this month along with the price of Bitcoin and most other major cryptocurrencies.
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Dogecoin surged nearly 10,000% this time last year after speculators began hoarding the dog-based cryptocurrency on Shiba Inu in January, but memecoin has since taken on a life of its own, with the rise of a dedicated community, thanks to the which, in part to support artists like Musk and Cuban.
“[Dogecoin] “It’s just fun,” Cuban told a talk show host. Ellen DeGeneres in April. But the weird part of it [is that] It went from being a joke about cryptocurrencies to something that is now a digital currency. “
Last month, while speaking during the Crypto Council for Innovation’s ₿Word event, Musk explained ideas that were previously raised to upgrade Dogecoin via Ethereum to “maximize transaction fees and reduce transaction costs.”
“There may be some advantages to combining something like Ethereum and Dogecoin,” Musk said.