Dogecoin cryptocurrency soars again after Ilon Musk's announcement

By: Maksim Panasovskyi | 17.08.2021, 14:50
Dogecoin cryptocurrency soars again after Ilon Musk's announcement

Elon Musk and Mark Cuban flattered Dogecoin cryptocurrency, after which its rate went up sharply. Within a week, the price of DOGE rose by almost a third.

What is it this time?

Mark Cuban, owner of the NBA's Dallas Mavericks club, said in an interview with CNBC that Dogecoin is the strongest digital currency in terms of medium of exchange. The businessman later wrote on Twitter that it is only needed for two things - spend or hold. It is the simplicity that is the main advantage of cryptocurrency.

Ilon Musk fully agrees with this. In the spring of 2021, thanks to the American billionaire, Dogecoin appreciated by several orders of magnitude. But during his same speech on SNL, the value went down sharply.

After new statements by Cuban and Musk, the digital currency began to appreciate again. Its rate for a while came close to $0.35 per coin, rising 16.8% at once. In the last 24 hours, the price has dropped slightly and stands at $0.334. During the last seven days, the cryptocurrency has already risen by 33%, and for the month - by 100%. But there is still a long way to the peak ($0.6848) in May.