The popular meme-based cryptocurrency, Dogecoin, can now be bought directly from Coinflip ATMs in 45 of the 50 U.S. states. It will be made available at 1,800 ATMs all over the United States. Coinflip, the Bitcoin ATM provider, recently announced that it had added Dogecoin as an investment option due to DOGE’s fame and current mass adoption. Coinflip has seen an enormous increase in demand over the last 12 months. It’s revenue is tripling year-on-year as the firm expanded its ATM count from 441 to approximately 1,800 since January 2020.
Further, Coinflip ATM supports Bitcoin, Ethereum, Binance Coin (BNB), Dash, Litecoin (LTC), Link, USDC, and Stellar Lumens (XLM). Nevertheless, with more cryptocurrencies joining the mainstream, it is a significant possibility that the ATM provider will append more crypto assets to its options in the future. Dogecoin accomplished immense traction owing to Tesla and SpaceX founder Elon Musk tweeting about it. The cryptocurrency increased by 25% in minutes of Musk tweeting a simple “Doge” on his account.
Dogecoin price skyrockets after gaining support from prominent personalities
However, Musk has always supported DOGE sending to a bullish rally. Earlier, he advocated that Dogecoin is the people’s crypto. In addition to Elon Musk’s playfully pumping the coin, DOGE has also gained support from Reddit group WallStreetBets (WSB), held for GameStop shares shooting through the roof. Following GameStop’s hype dying down, the retail investors turned their attention towards cryptocurrencies. Thanks to WSB hyping DOGE, the cryptocurrency’s price soared by 85%.
Mark Cuban, the owner of NBA Dallas Mavericks, joined the conversation on Feb. 8, saying Forbes that the meme coin’s attention is not a bad look for the industry. In the initial two weeks of February, the cryptocurrency’s price rocketed approximately 200% from $0.03 to $0.09. After then, it has gradually consolidated near $0.05. Some users consider that Dogecoin’s price surge wasn’t entirely organic, with an 85% price pump from Reddit group /WallStreetBets after the GameStop saga died. Recently, the meme-based cryptocurrency is up about 4% in the last 24 hours, and its market capitalization has overtaken that of Wrapped Bitcoin (WBTC), occupying at $6.6 billion.
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