Electric car billionaire, Elon Musk, restarted his tweets aimed at improving the Dogecoin price. This past week, Musk suggested that he might create his university, which he aptly named TITS (an acronym for Texas Institute of Technology & Science). Last night, the Tesla CEO, updated his tweet from last week by suggesting that fees for the school could be made with Dogecoin, and even DOGE holders will be given special considerations. Strangely, Dogecoin’s price is yet to reflect Musk’s positive tweets about it.
The Dogecoin-Shiba Inu Competition Hots Up
As widely reported, DOGE gained about 47% this past week, but its main rival Shiba Inu, also posted significant gains, which has now made both coins battle for the top 10 spot rankings of cryptocurrencies. As of this writing, Dogecoin and Shiba Inu’s market cap are almost the same, with DOGE’s market cap about $2B better than SHIB. But the truth is that SHIB might struggle to overtake Dogecoin’s place permanently due to the strong influence of the electric car billionaire.
Musk continues to show everyone that cares to listen that his favorite crypto is Dogecoin. Before tweeting that his university might support DOGE payments, Musk had earlier called the meme-themed cryptocurrency the ‘people’s crypto.’ This tweet caused a rise in DOGE price almost immediately.
The B-Word Conference And Musk’s Dogecoin
While at the b-word conference that took place earlier in the year, some members of the Dogecoin community alleged that Musk wasn’t showing enough support for DOGE. The Dogecoin community accused Musk of saying that the memecoin shouldn’t be taken seriously and the members-only make positive remarks on DOGE-related “memes.”
However, Musk countered that he is a fan of dogs and memes. He further said that DOGE was now part of his crypto investment portfolio. But the question many people are asking is that is Musk supporting DOGE out of growth expectations, or he’s simply joking around and might deny having a DOGE crypto portfolio within the next decade.
Binance Adds SHIB/DOGE Trading Pair On Its Trading Platform
As the supremacy battle between DOGE and SHIB hots up, Binance (leading global exchange) has added the SHIB/DOGE trading pair on its trading platform. Even though Shiba Inu was created, it was called Dogecoin killer. Its market cap at that time didn’t reflect that it might one day become DOGE’s main rival, let alone rank among the top 12 cryptos in the world.
However, a little over a year later and that seeming impossibility is now a reality. As there are SHIB enthusiasts, there are also DOGE enthusiasts. But Binance is aiming to cash in on this situation. SHIB’s astronomic rise proves yet again that impossibility is nothing in the crypto space. Binance exchange has officially announced that the SHIB/DOGE trading pair will become available for traders starting from today at 04:00 eastern time on November 1.
By trading on this pair, it will be clear which crypto is stronger between the two of them and earn profits for traders in the process. This supremacy battle would be similar to what currently obtains between BTC and ETH, even though this is happening on a lower scale.