{"id":76,"date":"2021-03-07T08:31:00","date_gmt":"2021-03-07T08:31:00","guid":{"rendered":"https:\/\/tradersofcrypto.com\/news\/?p=76"},"modified":"2021-03-10T12:12:37","modified_gmt":"2021-03-10T12:12:37","slug":"dogecoin-further-gains-credibility-after-mark-cubans-revolutionary-move","status":"publish","type":"post","link":"https:\/\/tradersofcrypto.com\/news\/dogecoin-further-gains-credibility-after-mark-cubans-revolutionary-move\/","title":{"rendered":"Dogecoin Further Gains Credibility After Mark Cuban\u2019s Revolutionary Move"},"content":{"rendered":"##\n<p>2021 is turning out to be the year all the Crypto enthusiasts have been waiting for a very long time. The crypto market has soared way beyond anyone\u2019s expectation this year, with its market capitalization crossing $1.7 trillion. This happened for the very first time since the inception of digital currencies over a decade ago. One of the primary reasons for this to happen is the astronomical growth of Bitcoin\u2019s value since the beginning of this year. Very recently, BTC broke the most anticipated $50k level and is currently continuing its bull run. Even Ethereum saw a huge rise in its price by reaching its new all-time high value of $2,043 in Feb.<\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-extra-small-font-size\" style=\"line-height:.1\"><\/p>\n\n\n\n<p>Besides these major cryptocurrencies, there is one coin that is making a lot of buzz this year, and that is <a href=\"\/coins\/dogecoin\/\">Dogecoin<\/a>. This crypto is a fork of Luckycoin, which is a fork of Litecoin &#8211; in turn, a fork of Bitcoin. Dogecoin is mostly known for its light-hearted origin and the selfless community it has been backed for over eight years now. The value of this crypto was hovering below a cent since its inception, and it was around half a cent even at the ending of 2020.<\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>In Jan 2021, the price of DOGE started to surge gradually, which could be due to its correlation with other significant cryptos like Bitcoin. But the actual bull run started in Feb.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>First, it was Elon Musk!<\/strong><\/h2>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>In a series of tweet on February 4, 2021, Elon Musk gave his unwavering endorsement of Dogecoin. He started with a one-word tweet \u2013 \u2018Doge\u2019.&nbsp; He followed this by another tweet saying \u2018ur welcome\u2019 alongside a photoshopped meme from the movie The Lion King, which showed him as the monkey shaman lifting DOGE. <\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">ur welcome <a href=\"https:\/\/t.co\/e2KF57KLxb\">pic.twitter.com\/e2KF57KLxb<\/a><\/p>&mdash; Elon Musk (@elonmusk) <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1357236825589432322?ref_src=twsrc%5Etfw\">February 4, 2021<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>This was perhaps him boasting that his tweet sent the DOGE\u2019s price surging over 50% in minutes.<\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-image size-medium is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"\/news\/wp-content\/uploads\/2021\/03\/11-1-300x134.png\" alt=\"\" class=\"wp-image-81\" width=\"297\" height=\"133\" srcset=\"https:\/\/tradersofcrypto.com\/news\/wp-content\/uploads\/2021\/03\/11-1-300x134.png 300w, https:\/\/tradersofcrypto.com\/news\/wp-content\/uploads\/2021\/03\/11-1-1120x500.png 1120w, https:\/\/tradersofcrypto.com\/news\/wp-content\/uploads\/2021\/03\/11-1-768x343.png 768w, https:\/\/tradersofcrypto.com\/news\/wp-content\/uploads\/2021\/03\/11-1.png 1514w\" sizes=\"auto, (max-width: 297px) 100vw, 297px\" \/><\/figure>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>The series of tweets went on further, with him acknowledging that DOGE is the people\u2019s crypto and \u2018no need to be gigachad to own\u2018. He finally capped his endorsement of DOGE with the tweet, \u2018 No highs, no lows, only Doge\u2018.<\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Although he didn\u2019t mention whether he has a personal investment in DOGE or if Tesla has any intentions of holding that crypto, DOGE went on a steady bull run, gaining up to 123% in just four days.<\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-image size-medium\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"132\" src=\"\/news\/wp-content\/uploads\/2021\/03\/12-1-300x132.png\" alt=\"\" class=\"wp-image-82\" srcset=\"https:\/\/tradersofcrypto.com\/news\/wp-content\/uploads\/2021\/03\/12-1-300x132.png 300w, https:\/\/tradersofcrypto.com\/news\/wp-content\/uploads\/2021\/03\/12-1-1137x500.png 1137w, https:\/\/tradersofcrypto.com\/news\/wp-content\/uploads\/2021\/03\/12-1-768x338.png 768w, https:\/\/tradersofcrypto.com\/news\/wp-content\/uploads\/2021\/03\/12-1.png 1510w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/figure>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>For the longest time, Dogecoin had been an obscure cryptocurrency. Evidently, Musk\u2019s endorsement gave birth to new-found popularity for Dogecoin, with the subsequent increase in demand leading to a massive bull run over the next four days. DOGE hit historic highs of $0.0888 as a result.<\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Then, it was the Shark Tank Investor &#8211; Mark Cuban!<\/strong><\/h2>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>In a press release on March 4, 2021, NBA\u2019s Dallas Mavericks announced that it has rolled out Dogecoin payments for merchants and consumers. This means that DOGE can be used to purchase online tickets and pay for merchandise online. Dallas Mavericks has, for the longest time, been an avid crypto enthusiast. For over two years now, the franchise has been accepting payment in BTC, BCH, ETH, USDC, GUSD, PAX and BUSD. According to the press release, accepting cryptos opens up a whole new market and makes merchandise more accessible to its global fanbase.<\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>However, the news of Dogecoin\u2019s inclusion did not seem to impact the market at the time, at least not until March 6, 2021, two days after this announcement. Mark Cuban, the billionaire owner of the Dallas Mavericks, announced on Twitter that:<\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">The <a href=\"https:\/\/twitter.com\/dallasmavs?ref_src=twsrc%5Etfw\">@dallasmavs<\/a> have done more than 20,000 <a href=\"https:\/\/twitter.com\/hashtag\/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Dogecoin<\/a> in transactions, making us the LARGEST <a href=\"https:\/\/twitter.com\/hashtag\/DOGECOIN?src=hash&amp;ref_src=twsrc%5Etfw\">#DOGECOIN<\/a> MERCHANT IN THE WORLD ! We thank all of you and can only say that if we sell another 6,556,000,000 <a href=\"https:\/\/twitter.com\/hashtag\/DOGECOIN?src=hash&amp;ref_src=twsrc%5Etfw\">#DOGECOIN<\/a> worth of Mavs merch,  <a href=\"https:\/\/twitter.com\/hashtag\/dogecoin?src=hash&amp;ref_src=twsrc%5Etfw\">#dogecoin<\/a> will DEFINITELY HIT $1 !!!\ud83d\ude80\ud83d\ude80\ud83d\ude80<\/p>&mdash; Mark Cuban (@mcuban) <a href=\"https:\/\/twitter.com\/mcuban\/status\/1368276718860046339?ref_src=twsrc%5Etfw\">March 6, 2021<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>DOGE had pared some of the gains it accumulated following Elon Musk\u2019s endorsement up to March 4, 2021, and it had shed about 43.36%.<\/p>\n\n\n\n<p>For a while now, the crypto community had for a long-time bashed DOGE as potentially dangerous crypto, which shouldn\u2019t be taken seriously. They argue that DOGE has limited utility compared with other decentralized crypto assets.<\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Dogecoin\u2019s adoption by Dallas Mavericks and the subsequent endorsement from Mark Cuban\u2019s tweet revived the DOGE bull run by further infusing some credibility in what most have referred to as \u2018joke coin\u2019. Since Cuban\u2019s tweet, DOGE has surged about 21% in under 48 hours.<\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-image size-medium\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"134\" src=\"\/news\/wp-content\/uploads\/2021\/03\/13-1-300x134.png\" alt=\"\" class=\"wp-image-83\" srcset=\"https:\/\/tradersofcrypto.com\/news\/wp-content\/uploads\/2021\/03\/13-1-300x134.png 300w, https:\/\/tradersofcrypto.com\/news\/wp-content\/uploads\/2021\/03\/13-1-1123x500.png 1123w, https:\/\/tradersofcrypto.com\/news\/wp-content\/uploads\/2021\/03\/13-1-768x342.png 768w, https:\/\/tradersofcrypto.com\/news\/wp-content\/uploads\/2021\/03\/13-1.png 1514w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/figure>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Quick Technical Analysis of DOGE<\/strong><\/h2>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>This analysis is based on the daily time frame and is valid for about a couple of weeks from now. As you can see in the price chart below, the market is in a massive upswing. Sellers are coming, and as a result of that, we can see a clear pullback in the price. The decreasing strength of the sellers implies that the price might not make a lower low or lower high anytime soon. The psychological support is at 0.0374, and the resistance is at 0.0698.<\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-image size-medium\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"178\" src=\"\/news\/wp-content\/uploads\/2021\/03\/4-300x178.png\" alt=\"\" class=\"wp-image-97\" srcset=\"https:\/\/tradersofcrypto.com\/news\/wp-content\/uploads\/2021\/03\/4-300x178.png 300w, https:\/\/tradersofcrypto.com\/news\/wp-content\/uploads\/2021\/03\/4-842x500.png 842w, https:\/\/tradersofcrypto.com\/news\/wp-content\/uploads\/2021\/03\/4-768x456.png 768w, https:\/\/tradersofcrypto.com\/news\/wp-content\/uploads\/2021\/03\/4.png 896w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/figure>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>The best price for the buyers to jump back in the game is at this support level. In a different scenario, the price might reach resistance and test that level. Post which, it might come back to the support, and only then there is a possibility of DOGE making a higher high. In conclusion, sellers are feeble for now, and selling is not a great idea.<\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>We hope you found this article informative. Are you thinking of holding Dogecoin? Just visit this page &#8211; <a href=\"\/coins\/dogecoin\/\">BUY DOGE<\/a>, and you can instantly buy this crypto at the lowest price possible. Cheers!&nbsp;&nbsp;<\/p>\n##","protected":false},"excerpt":{"rendered":"<p>After receiving active support from Elon Musk in Feb, Dogecoin is now being backed by billionaire investor &amp; Dallas Mavericks owner Mark Cuban. Read for details and quick technical analysis of DOGE. <\/p>\n","protected":false},"author":5,"featured_media":99,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[2,10,11,7,9,8],"class_list":["post-76","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorised","tag-bitcoin","tag-buydoge","tag-cryptocurrency","tag-dogecoin","tag-elonmusk","tag-markcuban","entry"],"_links":{"self":[{"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/posts\/76","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/comments?post=76"}],"version-history":[{"count":0,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/posts\/76\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/media\/99"}],"wp:attachment":[{"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/media?parent=76"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/categories?post=76"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/tags?post=76"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}