FX.co ★ Dogecoin prices soar after social media posts from Musk and Cuban

Dogecoin prices went at a comical speed to the top on Wednesday due to the fact that Tesla CEO Elon Musk referred to himself as "The Dogefather". This was all after the sale of 10 percent of the company Tesla in BTC to check the asset in liquidity and a post on Twitter about Bitcoin the other day, expressing recognition of the token. Now, Elon has taken up his favorite creation in the form of dogecoin, calling himself the Father of cryptocurrency. The Elon effect, which spreads like lightning across everything his hand has touched, seems to be back in the arena. Dogecoin jumped 20 percent, to $0.35, and then the price fell slightly, but the growth will continue again after such a stratagem from billionaires.

In recent weeks, the coin has experienced a brisk rise and rose to a historical high of $0.43 in the first week of April. Elon Musk, as an avid crypto enthusiast, constantly writes Twitter posts about cryptocurrencies, which leads to a boom and sharp growth. A recent study conducted by a massive research platform showed that the lion's share of investors and buyers on the Internet are inspired by Musk's "tweet" and are willing to buy using cryptocurrency and invest.

Another crypto-enthusiast from Dallas, Mark Cuban, who has been putting Dogecoin and Ethereum is higher than Bitcoin in its own chart, calling the digital asset the only currency that traders de facto use for online purchases and transactions.

Earlier, Cuban was on a popular American talk show and said that the Doge is a much better investment in the future than a lottery ticket or a sports bet. "People spend their Doge and that means more businesses will start taking it," he said on Twitter the other day.