thecoinrepublic.com
- Litecoin founder Charlie Lee recently praised Musk’s favourite Dogecoin for its contribution to the crypto market.
- He finds it great and quite fun, says the founder
- Dogecoin has recently witnessed a dip but managed to remain at a significant position with a $19 billion market cap.
Dogecoin, a cryptocurrency that started as a joke, has gained much significance in the crypto industry. And it continues to compete among the top ten cryptocurrencies by market cap.
In 2021, the meme coin witnessed bullish moves twice. Once when it got adopted by the crypto exchange Robinhood, the second one brought massive popularity when Elon Musk, Tesla’s CEO, showed immense support towards Doge. Many crypto enthusiasts believe that Musk’s support is the sole reason the meme coin managed to get in people’s minds. And now, Litetcoin’s creator has recently praised the Dogecoin calling Elon Musk great.
What Charlie Lee had to say about the Meme coin:
Litecoin is one of the most popular crypto assets by market capitalization. Its founder Charlie Lee has appreciated Dogecoin in terms of its contribution to bringing the crypto business into the mainstream.
The founder expressed that Dogecoin is quite fun and great in a recent interview. And he thinks that the famous meme crypto asset is all up to attract a large number of new users.
Elon Musk and Dogecoin have played a vital role in bridging the gap between the crypto industry and the general public. Musk has discussed the asset class multiple times through his Twitter account. In Fact, Tesla now accepts payments via Dogecoin for its products.
Recently he Tweeted and urged McDonald’s to accept payments via DOGE.
Doge thrust 35% post its January 16 fall and continued to remain below the low of December 4, which was around $0.128 till last week. The token stayed at a consolidated position around $0.14. But despite the fall, the meme coin stayed at a good position with a market cap of $19 billion and accounts for 1.1% of the entire crypto market. FXStreet expects the token to hit $0.16 this week, which is up by around 15% of the current price.
Litecoin is one of the oldest cryptocurrencies, initially emerged as a Bitcoin fork. And interestingly, its creator Charlie Lee does not currently hold any share of Litecoins.
Dogecoin witnessed massive support from Elon Musk, and he continues to do so. And a coin that started as a meme has made a significant position in the crypto industry throughout the years. Although it’s facing a fall currently, but it is look forward to how it goes in the future and in what ways Musk further supports it.