Dogecoin, a meme crypto created to make fun of wild speculation in the crypto space, has been entering serious conversations of late. Barry Silbert, the founder of Digital Coin Group (DCG), teased that he considered buying DOGE recently.
Could Silbert be the latest Dogecoin convert?
The Grayscale parent company founder said in a tweet that he could not believe the thought crossed his mind.
Can’t believe buying DOGE actually crossed my mind today, he mused.
The significance of the statement remains unclear at the moment, however. While he has not been too outspoken about Dogecoin, this is not the first time Silbert is teasing about the Bitcoin knock-off token.
Last month, he shared a cryptic tweet that compared popular cryptocurrencies to equally popular rock bands. However, he failed to draw a comparison for Dogecoin, leaving it with a question mark.
Trending Stories
Meanwhile, Dogecoin has been doing what every meme is intended for, which is sticking to minds. The token has been enjoying the spotlight of late, spurred on by Elon Musk and his bid to take over Twitter.
There are strong speculations that should the Tesla CEO be successful in his plans to buy the social media giant, integration of Dogecoin on the platform will be swift.
This has been heightened by Musk’s agreement with Dogecoin co-founder, Billy Markus, that the token needs more adoption and integrations to be more useful as a currency.
Dogecoin for institutional investors?
Dogecoin has been argued to hold great potential to become a global transactional currency. Proponents including Elon Musk and the CEO of Robinhood Vlad Tenev have held this stance. This puts up a serious use case for the memecoin that could distinguish it from other memecoin.
With developers of the blockchain working towards strengthening this narrative with strong community support, DOGE may achieve its potential in this direction.
This is why the DOGE community has not relented in courting new businesses to adopt the memecoin. If Grayscale, which is the biggest digital assets fund manager globally, launches a Dogecoin fund, it could do wonders for the adoption of the token.
Grayscale is not new to DOGE. A study conducted late last year showed that the memecoin is more popular than Ethereum among American investors it surveyed. Regardless, the asset manager has not disclosed any plans around the coin. DOGE is currently trading at $0.16, up 23.43% in the last 24 hours.
- Is Do Kwon’s Terra Recovery Plan Part Of A “Kill Switch” Protocol?
- This Top-50 Crypto Jumped 28% This Week Despite A Market Crash
- Goldman Sachs: Crypto Drawdown Will Have Little Impact on U.S. Economy
- Just-In: Ethereum Merge Most Likely In August, Says Vitalik Buterin
- Beware, Bitcoin Jumping Back Above $30,000 Could Be A Dead Cat Bounce, Here’s why
- Terra Ecosystem Announces Some Key Amendments to Its Revival Plan
- Breaking: Stablecoin Tether ($USDT) Reveals Reserves Fully Backed In New Report
- LUNA Crash: Blockchain Firm Losses $3.5 Billion As Terra (LUNA) Crumbles
- SWIFT Plans To Interlink All CBDCs, Here’s Why
- Breaking: Ripple (XRP) Throws In $100 Million To Cut Down Carbon Emission
- Bitcoin Price Analysis: BTC Price Strikes $30000; Breakout Or Fakeout?
- TRX Price Analysis – Another Bullish Attempt For $0.075 Breakout
- KuCoin Price Analysis: Low Volume Rally Hints Pullback Opportunity in KCS
- Polkadot Price Analysis: Bull Trap May Drag DOT Price To $7.3 Mark
- APE Price Analysis: Triangle Breakout Eyes 55% Rise in APE
- Ripple Price Analysis: XRP Price Remains Pressured Below $0.45
- EGLD Price Analysis: Decreasing Volume Hints EGLD to Reverse from $75
- Cardano Price Analysis: ADA Price Prepares For 22% Jump; Are You Holding?
- Bitcoin Price Analysis: BTC Price Holds Above $30,000; Opportunity To Buy?
- Ethereum Price Analysis: ETH Price Erases Recovery Gains Towards $2,000
