Amid recent support from celebrities and techies, the price of meme-based Dogecoin has risen over 700% in the last month. Now even billionaire Mark Cuban says he understands the attraction.
In today’s tweet from Shark Tank star and Dallas Mavericks owner, Cuban Dogecoin (DOGE) said “is the best entertainment hype available for your business” in the crypto market and does not think it is a “bad look” for investors. consider the symbol.
“[DOGE] gives you a greater chance of winning than a lottery while educating the economy of supply and demand and educating people about the claims about cryptocurrency,” Cuban said. “I like it very much as the cheapest course in economics that is fun at the same time.”
Over the past 24 hours, the DOGE price has risen more than 8% to $ 0.0782 at the time of publication, which is almost 700% in 30 days. The price was probably prompted by comments from Tesla CEO Elon Musk, who regularly tweeted cryptocurrency memes, polls and bullish notes.
Musk is not the only one joining DOGE. Over the weekend, rappers Snoop Dogg and Kiss’ Gene Simmons took to Twitter to express their support for the Doge Army, with Simmons saying he thought the token price would “rise”. During the three days since this tweet, the price of DOGE has risen more than 50%.
It remains to be seen whether the Cuban will become a full member of Doge’s army. Currently, the billionaire said he bought DOGE for $ 5 for his son Jake just for fun and financial education. The 11-year-old was a member of a group of retail investors who bought shares in AMC Entertainment and Blackberry in January.