Dogecoin was a meme cryptocurrency, and according to the creator of the cryptocurrency, it was intended as a joke but ended up being a success that now resides among the top 5 cryptocurrencies. There are a lot of factors at play for bringing Dogecoin to the position it is at today, and a lot of credit goes for the pioneer investors and influencers such as Elon Musk and Mark Cuban. Elon Musk used to tweet about Dogecoin and urging the holders to sell in exchange for his full support. It would help bring down the concentration, and Mark Cuban even went one step ahead and implemented Dogecoin as one of the payment methods for his NBA merchandise shopping through online channels.
Dogecoin has Gained a Fair Share of Support from Elon Musk and his Tweets
We certainly live in astounding times where one tweet from an influencer such as Musk can make the entire crypto market rumble. The same has been happening around Dogecoin as it has gained some massive traction not only among traders but also in the financial world. The adoption is not that fast, but it is taking place and not completely absent, such as KFC Canada setting Dogecoin as one of their payment options. Musk was singing off on pictures and electric vehicle-inspired toys for his fans in a blue autograph session. Musk was definitely basking in the starlight from all of his fans hovering around him, and in mere excitement, he did ask his fans about what they want him to do at his ‘Saturday Night Live,’ and there were some synonymous screams of ‘Doge’ to which he agreed.
Another question that Musk threw at his fans was, “is Dogecoin the number one choice of his fans?” It is pretty evident what an influencer can do merely sharing about something and talking about it and then that thing or event ending up as a trend that everybody seems to be doing or talking about. Guess this is how Dogecoin got its traction in the first place. Musk has recently confirmed Dogecoin will most definitely be the part of the next SNL episode that is going to air around 8 May.