This article is not financial advice and I am not a financial advisor.
Dogecoin has has been on an absolute test lately and has soared to a new all-time high. On Monday, the cryptocurrency’s price surged when it was announced you could by Dogecoin on eToro.
As of Tuesday morning, Dogecoin surpassed the $0.50 mark for the first time ever. The cryptocurrency trading app eToro decided to join in on the fun and is now offering Dogecoin on its platform.
Users have been asking the platform too add arguably the world’s favorite cryptocurrency. In a statement from eToro, “You barked and we heard you!”
$DOGE is here!
Here’s what you need to know
⚠ Not investment advice
— eToro (@eToro) May 3, 2021
The new listing on the eToro platform will give over 20 million users access to Dogecoin across the globe.
What is eToro?
eToro was born in 2007, when three entrepreneurs set out to disrupt the world of trading. That kind of sounds like a certain cryptocurrency currency we’re talking about.
Their mission: To make trading accessible to anyone, anywhere, and reduce dependency on traditional financial institutions.
Over the years, eToro has morphed from an online trading platform to an app. You can add cryptocurrencies and even stocks.
Dogecoin Hit $0.50 on Tuesday
Following the announcement of eToro, Dogecoin finally broke the $0.50 barrier. Experts who track the performance of cryptocurrencies had predicted it’d take until 2022 for this to happen.
The meme cryptocurrency is inching closer and closer to the $1.00 mark.
Dallas Mavericks owner Mark Cuban thinks Dogecoin is better than a “literary ticket”.
Cuban made an appearance on the Ellen DeGeneres Show and chatted about Doge.
“So the question everyone wants to know, is Dogecoin a good investment? And here’s the reason I got Jake into it. It’s not necessarily the best investment you can make, but you can buy it on Robinhood, and signing up and trading on Robinhood is free. So that’s one thing,” Cuban said.
“The second thing is it’s about 26 cents per Dogecoin. So if you go and spend $5, $10, $15, that’s a better investment than buying a lottery ticket. And you know what? It could go up,” he added. “It’s also becoming a digital currency, which is crazy if you think back to its origins,” added Cuban.
The Mavericks owner is planning to accept Dogecoin as a form of payment at his games.
The Closing Bell
DogecoinMania is at an all-time high and investors are riding the gains. With the cryptocurrency exceeding $0.50 on Tuesday, it will give investors hope that it will see $1.00 very soon.
“Meme coins like Doge only work if they gain utility and users use them for that utility,” tweeted Cuban.
As Dogecoin grows the excitement will follow. The meme currency is on the verge of something special and all I can say is, “too the moon”.
Let the cryptocurrency chaos continue.
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