Mark Cuban and Elon Musk are prominent pumpers of Dogecoin. Images: Shutterstock
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In brief
Dogecoin’s surge comes as Dallas Mavericks owner Mark Cuban announces special pricing for Dogecoin payments in his stores, and later calling it the strongest currency.
Musk tweets in support of Cuban, and Cuban fights Bitcoin maxis over Dogecoin.
Another boost for Doge has been the sponsorship deal of a Premier League soccer team to wear Dogecoin sponsorship on shirt sleeves.
Dogecoin has jumped 12.5% since yesterday and 40.4% this week, currently trading for $0.33, according to data from CoinGecko.
The weekend surge comes as investor and Dallas Mavericks owner Mark Cuban praised the cryptocurrency, joined by none other than Tesla and SpaceX CEO Elon Musk who’s single-handedly the greatest influence on DOGE pumps.
It began when Cuban announced Friday that Mavericks merchandise bought using Dogecoin would enjoy “special pricing.” It’s unclear whether this special pricing means that Doge holders will enjoy discounts or other offers, however.
Later in an interview with CNBC, he said, “the community for doge is the strongest when it comes to using it as a medium of exchange.”
The comment made headlines, with CNBC tweeting, “Mark Cuban says dogecoin is the ‘strongest’ cryptocurrency as a medium of exchange.” The meme coin enjoyed a hefty 11% boost shortly after.
Tesla and SpaceX CEO Elon Musk continues to stir the pot. In reply to a tweet comparing Bitcoin to Dogecoin, he said that the meme coin will win against Bitcoin if major network changes are implemented.
Musk, who has jokingly declared himself the “Dogefather,” tweeted, “Ideally, Doge speeds up block time 10X, increases block size 10X & drops fee 100X. Then it wins hands down.”
For those bad at math 👆, 100X higher transaction volume with 100X lower fees means total fees earned stay same. Low fe...
“The point about DOGE that people miss is that DOGE's imperfections and simplicity are its 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,” Cuban tweeted.
He also used the occasion to reveal his current Dogecoin holdings: A meager $494.
The Mavs have what we sold in merch. I personally own $494 worth of DOGE
Stake.com, a sports betting site whose logo will appear on shirt fronts, is expected to pay at least £700,000 ($970,500) for the deal in an unnamed cryptocurrency. To create some buzz about the partnership, Stake.com also plans to give away 10 million DOGE (worth $3.3 million), possibly to spend on their platform.
Coinbase has now overtaken two of the world's largest securities exchanges in terms of transaction revenue, according to a crypto analyst from the private bank Coutts.
The crypto exchange generated $5.75 billion in transaction revenue over the past 12 months, compared to just $4.54 billion for the Nasdaq, where many of the world’s most valuable companies, including Apple, Google, and Microsoft, are traded.
Coinbase also surpassed the Stock Exchange of Hong Kong, the HKEX, which generated $2.67 b...
After several extended reviews since June this year, the Securities and Exchange Commission (SEC) has finally approved the first spot exchange-traded funds combining Bitcoin and Ethereum.
The agency has authorized Nasdaq to list the Hashdex Nasdaq Crypto Index US ETF and the Cboe BZX Exchange to list the Franklin Crypto Index ETF, according to a filing released Thursday.
"The proportion of bitcoin and ether to be held by each Trust will be based on free-float market capitalizations," the filing...
Dogecoin (DOGE) fell 12.4% in the past 24 hours as a broader market decline continues, triggered by the Federal Reserve's latest economic outlook.
The meme coin has dropped to $0.31, while trading volume surged 67% to $10.25 billion as holders repositioned their bags. It's now down 35% from its 2024 high of $0.47.
Despite the pullback, Dogecoin's market capitalization remains at $46.6 billion, maintaining its position as the seventh-largest crypto.
Powell's hawkish comments about higher-than-exp...