Elon Musk agrees Dogecoin is the 'strongest' cryptocurrency; Price goes up

Elon Musk always had a strong influence on the cryptocurrency market. This was showcased after the price of several cryptocurrencies like Bitcoin, Ethereum, and Dogecoin changed because of Elon Musk’s public comment on it. Similarly, he again Tweeted about the popular meme currency, Dogecoin, which has increased the price of this currency by a good margin. Founder of The Boring Company recently Tweeted in favour of billionaire investor Mark Cuban’s claim that “dogecoin is the 'strongest' cryptocurrency as a medium of exchange.” This was released in a story covered by CNBC.

Musk agrees with Cuban's claim that "Dogecoin is the strongest cryptocurrency"

In response to Mark Cuban’s claim, Elon Musk tweeted, “’ I’ve been saying this for a while."  According to some information gathered by CoinDesk, Dogecoin price shot up significantly between August 15 and August 16. Because of his influence on Dogecoin price, Musk has been referred to as the ‘dogefather’ of the cryptocurrency market. This is not the first time CEO of SpaceX has been in favour of the exchange of cryptocurrency. Musk had already spoken about this topic during an interview in May. He said that there is a good chance that crypto is the future currency of the world. But because of multiple cryptocurrencies available in the market, it is certainly difficult to pick the most beneficial currency. 

• According to coinmarketcap.com, Current Dogecoin market cap is $42,076,158,279

How to buy Dogecoin?

• It is essential to have a Dogecoin wallet like Ledger, Exodus to buy cryptocurrency. Using this wallet can help the users buy any cryptocurrency available on the exchange platform. 
• After waking your Dogecoin wallet, try and locate your Dogecoin address. It is essential to buy the Dogecoin and place it in your wallet.
• Open any known Doge exchange on platforms like Binance, Bitpanda or Coinbase to know about the exchange information on Dogecoin. This includes knowing about the currency's exchange rate, documents required to complete the verification process of buying Dogecoin, and the payment methods.
• Select the amount of Dogecoin you want to buy and complete the payment process.
• This amount will soon reflect in your wallet. 
• It can be withdrawn or exchanged whenever needed.

Image Credit: AP/ PIXABAY