Meme-inspired cryptocurrency dogecoin surged on Monday morning, hitting 35 cents. It's now trading at around 33 cents and is up 10% in the last 24 hours, according to CoinMarketCap.<\/p>\n
This boost came after billionaire investor Mark Cuban told CNBC Make It last week that \"the community for doge is the strongest when it comes to using it as a medium of exchange.\" On Twitter, Elon Musk, CEO of Tesla and SpaceX, said that he agrees.<\/p>\n
\"I've been saying this for a while,\" Musk tweeted on Saturday.<\/p>\n
In May, Musk tweeted that he has been working with dogecoin developers to \"improve system transaction efficiency.\" Musk also reportedly told a dogecoin developerthat his goal is to make dogecoin easy enough to use that investors could use it to pay for a cup of coffee.<\/p>\n
\"The point is that dogecoin was invented as a joke as essentially to make fun of cryptocurrency,\" Musktold TMZ in May. \"Fate loves irony. What would be the most ironic outcome? The currency that started as a joke in fact becomes the real currency.\"<\/p>\n
Musk consistently supports the dogecoin community. He has tweeted countless dogecoin memes, which have seemingly impacted its price.<\/p>\n
Disclosure: CNBC owns the exclusive off-network cable rights to \"Shark Tank.\"<\/p>\n
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Dogecoin rallies after Elon Musk agrees with Mark Cuban that it's the 'strongest' cryptocurrency as a medium of exchange - CNBC<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Meme-inspired cryptocurrency dogecoin surged on Monday morning, hitting 35 cents. It's now trading at around 33 cents and is up 10% in the last 24 hours, according to CoinMarketCap. Continue reading