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Musk Supports Dogecoin, Again!

Elon Musk wanted Dogecoin to be listed in Coinbase as its adoption grows.

The CEO of Spacex and Tesla, Elon Musk, has once again tweeted his support for dogecoin. He wanted the crypto exchange Coinbase to list the cryptocurrency and says that he will get a Shiba Inu, the dog breed featured as the face of Dogecoin. While the coin’s adoption progresses, advocated by celebrities like Mark Cuban.

A question has been directed at Musk last Friday on Twitter about Coinbase listing dogecoin.

Coinbase does not support dogecoin yet. The crypto exchange is set to go public through a direct listing on Nasdaq. Its value also jumped to over $100 billion ahead of the IPO.

Last Saturday, Musk tweeted, “Doge day afternoon,” then proceeded to describe the “Origin of Doge Day Afternoon.” He also wrote, “The ancient Romans sacrificed a dogecoin at the beginning of the Doge Days to appease the rage of Sirius, believing that the star was the cause of the hot, sultry weather.”

He continued:

“Why are you so dogematic, they ask … I’m getting a Shiba Inu #resistanceisfutile.”

In 2019, Musk has been voted as Dogecoin CEO in a Twitter poll but he stated previously that all of his dogecoin-related tweets are not meant to be taken seriously. “Occasionally, I make jokes about dogecoin but they are meant to be jokes. Dogecoin was made as a joke to make fun of cryptocurrencies. Obviously,” Musk revealed in a Clubhouse interview where he also grilled Robinhood’s CEO about Gamestop.

The adoption of Dogecoin had been boosted by Musk’s several tweets and support by celebrities, like Shark Tank star Mark Cuban. Bitpay also added DOGE to its list of supported cryptocurrencies and a growing number of crypto ATMs now support dogecoin.

Dallas Mavericks, Cuban’s NBA team, has been accepting dogecoin for tickets and merchandise through Bitpay. He tweeted on March 6:

“The Dallas Mavericks have done more than 20,000 dogecoin in transactions, making us the largest dogecoin merchant in the world.”

“We thank all of you and can only say that if we sell another 6,556,000,000 dogecoin worth of Mavs merch, dogecoin will definitely hit $1,” he added. Now, the price of DOGE is below $0.06.

On the other hand, Mike Novogratz says that Cuban is making a mistake by letting his sports team’s fans pay with dogecoin.

“I think Mark’s making a mistake there. He’d be better off with 15 other ways to pay for his tickets,” Novogratz stated, showing concerts that investors might get hurt piling funds into dogecoin. “Let’s put people in the safest, best stuff, not you know, these joke coins,” he suggested.

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