CoinDesk Report:
Dogecoin (DOGE) was the first meme cryptocurrency to make its debut and has amassed a large following over the years. Despite its popularity, the asset has struggled to gain price momentum, with DOGE declining by 26.33% over the past 30 days. This sentiment has persisted into July, with the meme coin currently trading at $0.1198, marking a 3.14% decrease over the last 24 hours.
Despite stagnant prices, some investors, including prominent figures, remain undeterred. Elon Musk, who has been vocal about Dogecoin on Twitter for years, recently emphasized its importance among his three cryptocurrencies. Beyond tweets, Musk has also enabled practical use cases for DOGE holders, adding a range of products purchasable with Dogecoin on Tesla’s online store.
While Elon Musk undoubtedly leads the pack, he is not alone in the lineup of influential supporters. Other notable figures include:
Celebrity Ride on the Dogecoin Rocket
– Snoop Dogg: Known for his involvement in NFT investments and various cryptocurrencies, Snoop Dogg’s acquisition of Dogecoin in 2021 sparked his interest in these ventures.
– Mark Cuban: The Dallas Mavericks boldly began accepting DOGE as payment for tickets and merchandise in March 2021, driven by owner and billionaire entrepreneur Mark Cuban.
– Gene Simmons: According to the bassist of the rock band Kiss, he holds a substantial amount of cryptocurrency, with his Dogecoin holdings reportedly reaching six figures.
– Lil Yachty: The American musician reportedly intends to invest one-third of his income into Dogecoin, even pushing the cryptocurrency to 10 cents in February this year.
– Kevin Jonas: A member of the Jonas Brothers band, Kevin Jonas expressed his belief in Dogecoin with a tweet in February 2021: “I just wanna say… $Doge.”
– Jake Paul: Similar to Kevin Jonas, Jake Paul joined the Doge frenzy in mid-February, comparing the potential of dog-themed assets to market leader Bitcoin.
For more details, read: Analysts Predict Dogecoin Value at $1 by 2025
