In the last 24 hours, the meme cryptocurrency Dogecoin (DOGE) rose 16.8%, and over the past week by more than 45%. The price rally accelerated amid new statements from Mark Cuban and Elon Musk.
On Friday, August 13, the owner of the Dallas Mavericks announced special discounts during the summer sale of the club’s merchandise for those who will pay with Dogecoin.
Coming soon to https://t.co/VUydpLFzGh a summer merch sale with special pricing for those who pay with @dogecoin !!! 🚀🚀🚀
— Mark Cuban (@mcuban) August 13, 2021
That same day Cuban, in an interview with CNBC, described Dogecoin as \”the strongest cryptocurrency as a means of exchange\”.
\u201cI\u2019ve been saying this for a while,\u201d Elon Musk agreed.
I\u2019ve been saying this for a while
— Elon Musk (@elonmusk) August 14, 2021
On August 15, Mark Cuban voiced his view on the advantages of the meme cryptocurrency.
The point about DOGE that people miss is that DOGE’s imperfections and simplicity are it’s greatest strengths. You can only use it to do 2 things: Spend It or HODL It. Both are easy to understand. And it’s cheap to buy. Which makes it a community anyone can join and enjoy.
— Mark Cuban (@mcuban) August 15, 2021
\u201cPeople miss in DOGE that imperfection and simplicity are its greatest strengths. You can use the coin for two things: spend or hold. Both are easy to understand. And it’s cheap to buy. All of this makes it a community anyone can join,\u201d he wrote.
Another positive news for Dogecoin came from sports outlet The Athletic that in the new season the coin’s logo will appear on the shirt of English Premier League club Watford. This will be the result of a sponsorship deal between the club and the crypto online casino Stake.com.
The deal is valued at no less than £700,000 (about $970,060) and will be paid in cryptocurrency. To promote the partnership, Stake.com plans to give away 10 million DOGE.
In February 2021, Mark Cuban stated that bought Dogecoin for $5 for his 11-year-old son Jake for educational purposes.
In March, the Dallas Mavericks became the first NBA team to begin accepting DOGE as payment.
Later Cuban said that he had allocated 60% of his cryptocurrency portfolio to Bitcoin, 30% to Ethereum. The rest of his investments were allocated to other digital assets. He did not disclose the size of the investment.
Follow ForkLog news on Facebook.