Dogecoin Is On The Move!!
Elon Musk response was simply 100 for other comparable tweets by Markus. Musk reacted with a thumbs up emoji and a laughing emoji. Soon after the tweet from Musk, Dogecoin price was trading at around 24 cents, up nearly 6 percent.
So you might be thinking, why is Dogecoin on the move? Elon’s effect on Dogecoin is still very high. Dogecoin is rising more than other major coins, with the global crypto market value rising 4.49 percent to 2.38 trillion dollars. And according to Coin Trends data, DOGE was mentioned in 1380 tweets on Twitter during this time.
According to this article, Dogecoin has risen from obscurity to become one of the top 10 cryptocurrencies in terms of market valuation
- Dogecoin’s popularity makes it so
- Dogecoin is great for crypto novices
- Dogecoin’s market positioning is unique
This is pretty important because Motley Fool has been one of the biggest Dogecoin critics. According to the article, Dogecoin has risen from obscurity to become one of the top 10 cryptocurrencies in terms of market valuation. It further added that Dogecoin has grown in popularity due to two factors.
First, it was early to the game. Investors had fewer options back then, and simply being a part of the crypto environment carried a greater sense of purpose. Dogecoin’s standing as a farce invited enthusiasts to be a part of Dogecoin for reasons other than money. Second, it’s symbol was a picture of a dog. Enough said.
Some investors are put off by Dogecoin’s high volatility over the last year. Indeed, investing any large sum of money in something that might rapidly rise or fall in value necessitates a strong stomach in the correct mindset. Dogecoin, on the other hand, is an excellent alternative for investors wishing to get into the crypto game.
Mark Cuban suggested Dogecoin as a fun and instructive investment
Mark Cuban, a billionaire investor, believes that not all digital coins and assets are equal. Cuban described how he views many of the most prominent digital coins. When asked what cryptocurrency he recommend for beginners or new investors in the market, he believes Ethereum has the most potential as an investment and that Bitcoin is better gold than gold.
So besides talking about the investment opportunity in Ethereum, Mark Cuban also recommended investing in Dogecoin when it comes to cryptocurrency. He suggested Dogecoin as a fun and instructive investment because it is mined on a set schedule. He earlier stated that Dogecoin offers the finest use case for purchasing goods and services.