On Wednesday (April 28), the Dogecoin ($DOGE) price surged over 23% on crypto exchange Binance shortly after another supportive tweet by Tesla CEO Elon Musk.

During the past few months, two billionaire have done a lot to help Dogecoin get to where it is today. These two people are Tesla CEO Elon Musk and Dallas Mavericks majority owner Mark Cuban. Both have talked numerous times about Dogecoin on Twitter and during interviews.

Data by TradingView indicates that at 06:15 UTC on April 28, five minutes before Musk sent out his tweet, Dogecoin was trading as low as $0.2592. Then, just 15 minutes after Musk’s tweet, the Doincoin price got as high as $0.3192, which means that $DOGE price surged over 23% vs USD in a span of 20 minutes.

Mira Christanto, Asia Advisor at Messari, had this about the effect of Musk’s tweet on the Dogecoin price:

The Tesla CEO, who seems to be Dogecoin’s biggest fan, is referring in his tweet to his upcoming (May 8) appearance as the guest host of American late-night live television sketch comedy and variety show Saturday Night Live (SNL).

Anthony Sassano, who is the Product Marketing Manager at Set Labs, Co-Founder of ETH Hub, and the co-host of the “Into the Ether” podcast, said:

Yesterday, billionaire investor and entrepreneur Mark Cuban talked about Dogecoin ($DOGE) during an interview on “The Ellen DeGeneres Show“, where he said that although Dogecoin had started out as a “cryptocurrency joke”, it is now “becoming a “digital currency”.

Also, crypto payment processor BitPay announced yesterday that BitPay merchant Tilman Fertitta’s Post Oak Motor Cars, which is based in Houston, Texas, and which only deals with super luxury car brands such as Bugatti and Bentley, is now accepting Dogecoin as a form of payment. Apparently,

Currently (as of 07:20 UTC on April 28), Dogecoin is trading around $0.2907, which means that it is up 4.6% in the past 24-hour period and up 5832% so far in 2021.

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.