coincodex.com
Key highlights:
- Dogecoin gained around 15% in the last 24 hours
- Recently, the coin got some good publicity from billionaire investor and Dallas Mavericks owner Mark Cuban
- Dogecoin will also be featured on the jerseys worn by Watford F.C. players as part of a sponsorship deal with Stake.com
Dogecoin jumps by 15% amid positive publicity
Dogecoin is up around 15% in the last 24 hours amid some new publicity for the popular meme cryptocurrency. The DOGE price managed to make some headway above $0.30, which was previously represented some resistance for Dogecoin bulls.
One of the main reasons for Dogecoin’s 2021 explosion was the coin being promoted by Tesla and SpaceX CEO Elon Musk, who has an extremely large fanbase on Twitter (over 59 million followers at the time of writing). Combined with the coin’s humorous branding and availability on mainstream investing platforms like Robinhood, this enabled Dogecoin to produce on the most memorable rallies in the history of cryptocurrency.
Mark Cuban, a famous investor and owner of the Dallas Mavericks franchise, now also seems to be joining Musk as a billionaire Dogecoin supporter. In a statement to CNBC’s Make It, Cuban commented on Dogecoin gaining traction as a medium of exchange, and said that it’s the strongest of all cryptocurrencies when it comes to the community advocating for its use as a payment method:
“It’s a medium that can be used for the acquisition of goods and services. The community for doge is the strongest when it comes to using it as a medium of exchange.”
In a tweet, Cuban also said that the Dallas Mavericks web store will be holding a summer merchandise sale where users paying with Dogecoin will be able to take advantage of “special pricing”.
In other news, Dogecoin will be getting some more airtime on television as English Premier League club Watford F.C. will have the Dogecoin logo on its jerseys as part of a partnership with cryptocurrency-friendly gambling platform Stake.com. The sponsorship deal is worth around £700,000 ($970,000), according to a report by The Athletic.
Regardless of Dogecoin’s recent momentum, the coin is still far from the all-time high that it reached in early May. While Bitcoin and Ethereum are both about 25% removed from their respective ATHs, Dogecoin is down around 54% from its highest-ever price.