Tag: Dogecoin

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Crypto News Cryptocurrencies Cryptos Dogecoin

Mark Cuban talks about Dogecoin on the Ellen Show, with 2.6 Million Viewers

Mark Cuban told Ellen that he accepts the Dogecoin cryptocurrency as payment for his Mav’s basketball team merchandise and suggested she should do the same for her Ellen shop.

“Should I buy some Dogecoin?” is possibly the most popular question coming from the mouths of noobs looking to get into crypto over the past several weeks and months. And with Mark Cuban telling the 2.6 million viewers on the Ellen show to go buy DOGE, will surely help its poularity grow.

Dogecoin Started as a Joke

The meme coin that started off as a joke, has performed insanely well, much to the surprise of the more serious crypto investor. Dogecoin has climbed into the top cryptocurrencies on CoinGecko, currently sitting at #7 under well known majors; Bitcoin, Ethereum, Binance coin, Ripple and Cardano.

It went from being a crypto currency joke, to now becoming something that’s becoming a digital currency.

Mark Cuban

Dogecoin was created in 2013 by software engineers Billy Markus and Jackson Palmer, as a payment system free from traditional banking fees. Since, it has gained a huge online following and made headlines again recently by hitting it’s all time high of 0.40c per coin, rising over a whopping 450% in value over just one week.

Cryptocurrency is just an asset to invest in. Bitcoin is like a digital version of Gold, Ethereum is a digital version of a currency and then you’ve got Dogecoin… which is just fun!

Mark Cuban

Is Dogecoin a Good Investment?

Because Dogecoin started as a joke and has limited utility, some might say it’s not even an investment at all. However, it certainly has strong branding and provides a great way to introduce new people into the cryptocurrency space.

We’re seeing some shops have starting accepting DOGE as payment, such as merchandise on the Dallas Maverick Store, owned by Mark Cuban. And with such a strong meme presence and an army of famous ambassadors such as Elon Musk and Snoop Dogg shilling the project on social media, love it or hate it; Dogecoin is here to stay.

Caitlin Carey – Crypto News Guest Author

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Bitcoin Dogecoin Investing

Bitcoin (BTC) Hits New All-Time High as Tesla Drops in a Cool $1.5 Billion

Tesla, the world’s favorite electric car manufacturer, has announced a $1.5 billion injection into Bitcoin, sending the king of cryptocurrencies to new highs.

Within minutes of the announcement, Bitcoin catapulted past its previous high of $42,000, very nearly cracking the $44,000 barrier before a mild correction. It currently sits just about $43,000 but we expect to see some more volatility and further growth as the news spreads.

The official announcement follows several hints dropped by Telsa CEO and world’s richest man, Elon Musk, about his faith in Bitcoin. Two weeks ago, Musk changed his Twitter profile to the hashtag #Bitcoin, followed by a cryptic message simply stating “In retrospect, it was inevitable”. That announcement alone gave Bitcoin a massive 20 percent boost in value, although the gains dissipated quickly.

Musk’s Crazy Crypto Journey

Musk’s support for Bitcoin came at a time when financial markets around the world were faced with mounting instability following the WallStreetBets and GameStop saga that nearly bankrupted massive US hedge fund Melvin Capital. The fallout forced popular trading app Robinhood to halt trading, leading to widespread controversy and driving many traditional investors to consider cryptocurrency.

Musk has also been promoting the least likely of digital assets, the joke meme cryptocurrency Dogecoin (DOGE). He did so in a series of bizarre tweets involving photoshopped Lion King imagery that led many to wonder if Musk’s Twitter account had in fact been hacked. However, it seems the tweets were genuine, helping to send Dogecoin to new highs and secure it a place in the top 10 cryptocurrencies by market cap. At the time of writing, Dogecoin is up 104 percent in the past 7 days with a market growth of $6 billion.

Buy a Tesla with BTC

Along with the $1.5 billion investment, Tesla has also announced that it plans to start accepting Bitcoin as a form of payment. In its annual financial report, presented to the US Securities and Exchange Commission (SEC), the company outlines its plan to begin accepting cryptocurrency payments.

“Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt,” the report reads.

The news is undoubtedly one of the biggest boosts for cryptocurrency since Bitcoin was birthed over a decade ago. With the backing of one of the world’s most successful and forward-thinking tech companies, many more businesses around the world are likely to begin accepting payments in crypto.  

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Australia CoinSpot Crypto News

Aussie exchange, CoinSpot Briefly Surferred Downtime Amid Massive Traffic

Massive Traffic Briefly Took Down Aussie exchange, CoinSpot

Server outage is somewhat becoming a norm for major cryptocurrency exchanges whenever digital currencies start to skyrocket in price, amid massive capital inflows. Coinbase and Binance saw massive trading volumes in December as Bitcoin climbed to US$20,000, which consequently took down their servers, as Crypto News Australia reported.

Following the rush in the crypto market yesterday, especially for Dogecoin (DOGE), one of the leading Australian crypto exchanges, CoinSpot, briefly surfaced a downtime in the earlier hours of today.

CoinSpot Dropped due to 5000% Increase in Traffic

CoinSpot took to Twitter to inform its users about the sudden downtime and difficulties in processing orders. While commenting on this, some people accused the exchange on Twitter of intentionally shutting down the website due to liquidity issues. Some of the users also claimed to have lost some money due to the incident. 

Per the claims, CoinSpot crashed probably because they don’t have sufficient funds to meet the demands of traders trying to cash out their profit from Dogecoin. 

However, the exchange addressed the development in a subsequent tweet, saying the issue was caused by massive traffic on the website. CoinSpot reportedly gained about a 5,000 percent increase in the average daily users earlier today, which led to the downtime. However, the exchange has resumed its normal trading functions as the server issue has been addressed, according to the tweet. 

Why Dogecoin is Spiked Over 1,000%

The massive increase in the market price of Dogecoin aligns with the recent GameStop-stock development. Just like GameStop, a group of Redditors had collectively pitched making DOGE the equivalent of GME in cryptocurrency. This resulted in over 1,000 percent growth of Dogecoin above US$0.07. However, the cryptocurrency is currently trading at $0.03904 on Coingecko, which represents a 248.28 percent increase in a 24-hour count.

Find out if CoinSpot is an expensive exchange to buy Dogecoin in Australia.