Mark Cuban has reaffirmed his support for Dogecoin, stating that the meme coin will route to the popular Bitcoin. The Dallas Maverick founder said in an interview with CNBC in April 2021 that he would accept Dogecoin at Mavs games.
Although Dogecoin is now trading at a 1% discount to Bitcoin, it remains an important cryptocurrency in the Bitcoin ecosystem. Mark Cuban backed a user who believes Bitcoin should give way to Dogecoin 100 percent.
Dogecoin Gets More Support
Compared to Bitcoin and other prominent cryptocurrencies such as Ethereum and Cardano, Dogecoin is ranked 11th on CoinMarketCap. While the meme coin is still developing in popularity, its supporters believe it will increase.
Shibetoshi Nakamoto also praised dogecoin for attracting more users and extending the crypto market, which Bitcoin failed to do. Some Twitter users responded with a neutral stance, not endorsing Dogecoin or Bitcoin. Another supporter claimed that without Dogecoin, he would not have amassed the amount of Bitcoin he does.
Users have also agreed that Dogecoin speeds up the process and allows merchants to make more money. Although Bitcoin is unavoidable and remains one of the most popular cryptocurrencies on Twitter, it would not have grown in popularity without DOGE.
Dogecoin will not only speed up Bitcoin’s processes, but it will also pave the way for new meme cryptocurrencies. A Bitcoin supporter claimed that Dogecoin had introduced him to other cryptocurrencies on Twitter. Bitcoin, according to Mark Cuban, will not be an inflation hedge.
In March 2021, the Dallas Mavericks became one of the first businesses to accept Dogecoin for retail and ticket purchases. Another corporation that has previously backed Dogecoin is AMC Entertainment Holdings.
Dogecoin To The Moon
Apart from Mark Cuban, who has been a strong supporter of Dogecoin, Elon Musk has remained a strong supporter of the coin. Elon Musk tweeted a picture of a rocket traveling toward the moon this morning, along with the comment “back to the moon.” Elon Musk’s tweet has gotten a lot of attention in the previous few hours.
Dogecoin is attracting the attention of a growing number of ordinary investors. According to Matt Wallace’s response to Musk’s post, users are waiting for the meme coin to reach the moon. Musk isn’t losing up optimism that Dogecoin will achieve substantial new highs. Bitcoin is currently trading at $41,957.23, up 0.74 percent. Dogecoin is currently trading at $0.1642, down 1.09 percent.