ELON MUSK : DOGECOIN IS MONEY
Dogecoin continues to trade above the 20 cents level per token after going below the psychological level in the earlier days of last month and in the midst of this popular billionaire and CEO of Tesla and SpaceX, Elon Musk shared a meme on Twitter proclaiming that the coin is not just a tool to make money, but rather Dogecoin is money.
Elon Musk continued to rally behind Dogecoin on Twitter
shows Keanu Reeves asking What are you trying to tell me, that I can making a lot of money with Dogecoin? Doge Morpheus responses, No Neo Dogecoin is money.
Dogecoin prices surged over 10 percent to 21 cents, according to Coin Desk. Musk has been responsible for pumping the price of Doge on various occasions by sharing several references and Memes that are related to the dog themed cryptocurrency on a social media feed. He’s continued to rally behind the coin on Twitter, reversing the direction of the price whenever it picked up a downtrend.
Doge carries lower transaction fees than Bitcoin
Dogecoin has remained the eighth most valued cryptocurrency by market value, according to coin marketcap. It had moved to that spot earlier this year and has remained there ever since. Dogecoin has undoubtedly experienced the most gain than any other crypto, with over 6500 percent increase in valuation over the past year. The trading volume of the meme coin has shot up by almost 1250 percent, close to one billion dollars throughout the second quarter of 2021.
Small businesses can get several ways to begin accepting Doge as a means of payment. The process may be slow and not as straightforward as implementing a traditional payment option. Dogecoin is better suited for day to day transactions due to its unlimited supply and inflationary nature. Also, Bitcoin transaction times are up to 10 times slower compared to that of Doge. And finally, Doge carries lower transaction fees.