Of all the “story coins” (as opposed to “story stocks”) of 2021, Dogecoin is easily outperforming the rest. Some folks thought it would be Cardano, but the Reddit crowd decided to crown Dogecoin the king, and so it came to pass.

Today, it’s amazing to consider that surpassing the one-cent mark was a major achievement in early 2021. That milestone is far back in the rear-view mirror, as Dogecoin surpassed 40 cents earlier this month.

The price did pull back from that level, but it’s on the rise again because of a pair of tweets from some well-known cryptocurrency aficionados. Suffice it to say that while Dogecoin may have started out as a joke, it’s serious business nowadays.

Indeed, Dogecoin is the sixth biggest cryptocurrency by market cap now. It’s not a serious threat to Bitcoin and Ethereum in that regard – or at least, not yet – but it’s moving up the ranks quickly and garnering attention from the mainstream financial press.

One of the two recent notable tweets about Dogecoin came from billionaire Tesla CEO Elon Musk, who tersely referenced his upcoming appearance on Saturday Night Live while also expressing his support for the crypto coin:

Courtesy: @elonmusk

Musk has claimed that his frequent tweets about Dogecoin are meant to be jokes. Yet, his tweets appear to have a positive impact on the price of the cryptocurrency.

Of course, Musk isn’t alone in his enthusiasm for Dogecoin. In fact, Mark Cuban, the owner of basketball team the Dallas Mavericks, has tweeted several times about Dogecoin recently.

Cuban has a particular interest in Dogecoin, as his NBA team is on track to complete 6,000 Dogecoin transactions in April.

93% Of Investors Generate Annual Returns, Which Barely Beat Inflation.

Wealth Education and Investment Principles Are Hidden From Public Database On Purpose!

Build The Knowledge Base To Set Yourself Up For A Wealthy Retirement and Leverage The Relationships We Are Forming With Proven Small-Cap Management Teams To Hit Grand-Slams!

    In early March, payment services provider BitPay began accepting Dogecoin payments for merchants and consumers. The Dallas Mavericks also started to accept Dogecoin, and the fans could now use Dogecoin to buy tickets and merchandise online.

    This begs the question of why the Mavericks would accept Dogecoin, of all cryptocurrencies. Cuban’s explanation is: “We have chosen to do so because sometimes in business you have to do things that are fun, engaging and hopefully generate a lot of PR.”

    Courtesy: @mcuban

    Here’s Cuban most interesting recent tweet about Dogecoin. It’s a response to someone on Twitter who had asked Cuban, “Why Doge over other cryptos designed to be currency Mark? Why not back one that has utility & value?”

    It’s a bold statement for Cuban to claim that Dogecoin is the “one coin that people actually use for transactions.” Bitcoin users might take issue with that claim, but I’ll leave that debate up to the crypto gurus.

    David Kimberley, an analyst at U.K. investing app Freetrade, doesn’t seem to be convinced of Dogecoin’s transactional value.

    “People are buying the cryptocurrency, not because they think it has any meaningful value, but because they hope others will pile in, push the price up, and then they can sell off and make a quick buck,” Kimberely reportedly said.

    In any case, Robinhood Co-CEO Vlad Tenev recently dropped a bombshell that could provide the next catalyst for Dogecoin.

    “We’re working on deposits and withdrawals! Not just for DOGE, but for all coins on Robinhood Crypto,” Tenev tweeted.

    Exposure on the Robinhood app would undoubtedly boost the trading volume of Dogecoin. It would probably boost the coin’s price and market cap as well – and with that, Dogecoin above $1 could easily happen sometime in 2021.

    Governments Have Amassed ungodly Debt Piles and Have Promised Retirees Unreasonable Amounts of Entitlements, Not In Line with Income Tax Collections. The House of Cards Is Set To Be Worse than 2008! Rising Interest Rates Can Topple The Fiat Monetary Structure, Leaving Investors with Less Than Half of Their Equity Intact!

    Protect Yourself Now, By Building A Fully-Hedged Financial Fortress!

      Legal Notice: No matter how good an investment sounds, and no mater who is selling it, make sure you’re dealing with a registered investment professional. Use the free, simple search at investor.gov

      We are not brokers, investment or financial advisers, and you should not rely on the information herein as investment advice. We are a marketing company. If you are seeking personal investment advice, please contact a qualified and registered broker, investment adviser or financial adviser. You should not make any investment decisions based on our communications. Our stock profiles are intended to highlight certain companies for YOUR further investigation; they are NOT recommendations. The securities issued by the companies we profile should be considered high risk and, if you do invest, you may lose your entire investment. Please do your own research before investing, including reading the companies’ SEC filings, press releases, and risk disclosures. Information contained in this profile was provided by the company, extracted from SEC filings, company websites, and other publicly available sources. We believe the sources and information are accurate and reliable but we cannot guarantee it.

      Please read our full disclaimer at CrushTheStreet.com/disclaimer