Dogecoin extends its one-month surge to 100% after Elon Musk agrees with Mark Cuban’s bullish take on the crypto

Dogecoin extends its one-month surge to 100% after Elon Musk agrees with Mark Cuban’s bullish take on the crypto

Spiked as much as 16% to $0.351 Monday on after receiving praise from some of its most prominent celebrity fans over the weekend. The meme cryptocurrency has now rallied roughly 100% in the last month, outpacing larger coins like bitcoin and ether. Dogecoin's spike can be partly attributed to recent chatter from billionaire investor and Tesla CEO Elon Musk. last week that his NBA team - the Dallas Mavericks - would offer special prices for customers choosing to pay with dogecoin in its summer sale. The entrepreneur then dogecoin is a medium that can be used for the acquisition of goods and services, saying "the community for doge is the strongest when it comes to using it as a medium of exchange." On Saturday, in response to a CNBC article about Cuban's claims, Elon Musk : "I've been saying this for a while." The Tesla CEO has long supported dogecoin and the light-hearted, goofy community around it. Dogecoin's gain also comes amid a broader cryptocurrency market rally. On Sunday, the total value of all cryptocurrencies topped $2 trillion for the first time since May, according to . As 9:55 a.m. ET Monday, Dogecoin traded around $0.3219. It's the first time