Is Dogecoin the Most Potent Cryptocurrency? The Real Truth

Dogecoin (DOGE) has grown by about 50% in the last few weeks. Coinbase Global released quarterly financial results earlier this week. According to the company, the volume of trade has increased by 38% in recent times.

Dogecoin is the seventh-largest cryptocurrency in the world by market capitalization, according to CoinMarketCap. Previously, investors could not trade Dogecoin on Coinbase, but the company began supporting cryptocurrencies on June 3, opening the door for Coinbase to nearly 9 million MTUs. And as a result of the price also increased.

According to the Finder survey, experts became divided over DOGE. However, these are only assumptions because, in reality, no one knows the future of Dogecoin.

Who is the Dogefather of Dogecoin?

Elon Musk has again publicly backed billionaire entrepreneur Mark Cuban over his beloved Dogecoin cryptocurrency.

Musk and Cuban became fascinated by DOGE long ago. In fact, they are pleased that there is such a cryptocurrency in the harsh world of blockchain.

In an interview with CNBC, Cuban said that when it comes to the best exchange, Dogecoin is the best at it. Based on this, DOGE can be comfortably used to ‘purchase goods and services.’

After commenting on CNBC, Elon Musk responded to these words on Twitter and reiterated his position and uniformity of opinion.

Dogecoin was the favorite cryptocurrency for both Cuban and Musk, and entrepreneurs recognized it simultaneously. In early 2021, the Cuban used DOGE to pay for goods from the Dallas Mavericks basketball team.

Tesla CEO Elon Musk was the most prominent voice to introduce Dogecoin to the public. He actively promotes awareness on social media through his posts.

Elon Musk also works to improve DOGE as a cryptocurrency. He is working with cryptocurrency developers to enhance the efficiency of network transactions.

Tesla began accepting bitcoin for transactions as a means of payment for electric vehicles. Although a similar payment method became suspended for several months, there are expectations of expanding the Dogecoin inclusion option.

SpaceX has already announced that it will send a Dogecoin-funded satellite to the moon in early 2022. Musk’s popularity of DOGE earned him the title of “Dogefather” in the community. Elon is likely to stay true to his idea shortly.