Elon Musk which is known as the Doge father has often tweeted about his love for Dogecoin. He says Dogecoin posses some potentials to be the actual currency. His undeterred love for Dogecoin a coin that was said to have been created as a joke to mock Bitcoin got investors in the shadow of why Elon Musk “The King of Tech” keeps showering praises on the meme coin through his official Twitter handle.
Analysts’ have often warned investors and newbies to be wary of investing in any coin such as Dogecoin, calling it a “Joke,” and has “no fundamentals.”
Mark Cuban is as well another prominent personality who has shown positive interest in Dogecoin since it began to rise to prominence. In his recent statement, he said; Dogecoin will hit $1 and become a stable coin,” This came before Elon Musk’s appearance on SNL. Mark Cuban’s statements seem to fall in line with the comments made earlier by the IBM software engineer Billy Markus the creator of Dogecoin said; Dogecoin will hit “$1 dollar and hold on.”
There have been so many negative predictions about Dogecoin from self-proclaimed analysts that Dogecoin will never hit $0.50 cents, some random analysts on social media call it a “pump and dump,” Some say without Elon Musk tweeting about Dogecoin it wouldn’t have been around for so long. Amid all the negativity, Dogecoin broke the negative barriers reaching its all-time high of $ 0.7 grabbing a market cap of 90 billion dollars flipping Cardano’s ADA and Ripple’s backed XRP to become the 3rd world largest cryptocurrency and one of the most search cryptocurrencies worldwide.
Also the C.E.O of Input Output Charles Hoskinson who previously called out Ethereum on Twitter, calling it a scam project, also called Dogecoin a “Threat,” in the crypto space. Charles Hoskinson’s statement came a day before Elon Musk’s live appearance on SNL
Dogecoin dropped 35% after Elon Musk’s makes a joke of Dogecoin during his live appearance on SNL. At the moment Dogecoin trading at $ 0.50 USD on Binance the world leading trading platform. While Cardano’s ADA surged 16% reaching a new all-time high of $ 1.8 USD.
At the time of writing Cardano’s ADA is trading on Binance at $1.8 USD, while Ethereum trading at $ 39,000 USD/ coin.