thecoinrepublic.com
It’s pretty evident that the Dallas Mavericks owner believes in the power of the currency that started as a joke.
The meme cryptocurrency that is Dogecoin (DOGE) sure took the spotlight alongside the surge of GameStop stocks back in January, not to mention that it also caught the attention of Tesla’s Elon Musk.
Albeit these, crypto experts are suggesting that this could be just a “mania.”
CoinShare’s Chief Strategy Officer MeltemDemirors is just one of them as she stated that Dogecoin’s popularity is “definitely a mania.”
Talking with CNBC, she mentioned that the currency is not for her, though she made it clear that Dogecoin is neither good nor bad. Further, the CSO revealed that her firm “does not produce analysis on Dogecoin for a reason” and even went on to say that they don’t trade it.
Demiror also shares the same sentiment with “Squawk on the Street” host Jim Cramer. In a recent episode of the CNBC program, he said that he’s not a believer in Dogecoin, adding that the currency was created as a joke. The host even went on to say that it’s a sport.
Mark Cuban Talks About Dogecoin on Ellen DeGeneres Show
On the other hand, Dallas Mavericks team owner Mark Cuban is a strong believer of the Dogecoin. During his guesting on “The Ellen Show,” he revealed how he and his son got into the currency.
Further, he also said, “but as overall when someone brings up Dogecoins to you and ask you if it’s a good investment, I wouldn’t say it’s the world’s best investment, but it’s a whole lot better than a lottery ticket and it’s a great way to learn and to understand cryptocurrencies.”
DOGE is trying to make a comeback
Currently, the DOGE is trying to make a comeback. This after its value plummeted by 65 percent, down to just $0.15 from a record high of $0.44. The currency is now at $0.27, which is fairly decent as compared to the previous week. Dogecoin is ranked the seventh-largest cryptocurrency on the planet as it is worth over $35 billion, according to CoinMarketCap’s data.