Dogecoin has once again broken into the top ten cryptocurrencies after a massive price surge that led the meme coin to paint a new all-time high price at $0.14.
The surge painted by Dogecoin is attributed to celebrity adoption of the meme coin and American professional basketball team, Dallas Mavericks accepting payment for game tickets in the meme coin and other products.
Also, celebrity adoption for the coin has continued as Guy Fieri, a US restaurateur also accepting payment in Doge. All these alongside continuous effort from World’s richest man, Elon Musk, music star Snoop Dogg, Gene Simmons, and others have culminated in the coin’s 80% surge in 24 hours and afterward a new ATH for the crypto. The coin in the past seven days has surged by over 122%.
Elon Musk giant impact in Dogecoin Price surge
From the inception, Tesla CEO has always identified with Dogecoin calling himself the CEO of the coin at some point. He was also never silent about his love for the coin as most times he’s always tweeting about the coin and calling attention to it.
He single-handedly raised the profile of the meme coin in January such that rumors brew afterward that the United States Securities and Exchange Commission could investigate his influence on the price of the meme coin.
Severally, after Musk tweets about Doge, the price begins to rise and when it gets to a certain point it falls and continues its normal cycle. The Tesla boss endorsement of Doge has led to the crypto gathering several followers in all sorts of corners of the media, sports, and entertainment spheres.
Mark Cuban: Mavs hodling their Doge
Billionaire investor, Mark Cuban who is among the numerous celebrities behind DOGE helped the American basketball team to implement DOGE payment for tickets and merchandise for the NBA team – the Dallas Mavericks.
He gave no reason for the team enabling Doge payment. He simply said, “because we can.” Today (Wednesday)the billionaire tweeted that Dallas Mavericks’ merchandise store has seen a 550% increase in transactions in DOGE over the past month. “We have now sold more than 122k Doge in merchandise,” he revealed. Cuban also said the team will never sell a single DOGE ever.
FYI, the Mavs sales in @dogecoin have increased 550pct over the past month. We have now sold more than 122k Doge in merchandise ! 🚀🚀🚀 We will never sell 1 single Doge ever. So keep buying @dallasmavsshop https://t.co/li32cdtcED
— Mark Cuban (@mcuban) April 14, 2021
He has said previously that the basketball team merch store had become the “largest Dogecoin merchant in the world.”
Why Doge new ATH price is surprising
Usually, whenever the coin surges as it has now, it is always connected to either a pump-action from somewhere or from Elon Musk. However, the case is not the same now as Musk has been silent on the crypto for a while now.
Nevertheless, Doge skyrocketed 80% in the last 24 hours and 122 % during the week. Similarly, the market cap of the coin has nearly hit $17 billion thereby going above Chainlink to be the number ten cryptocurrency.