Dogecoin is Back in 10th Spot, Elon Musk to Keep Supporting, Buying Crypto

Dogecoin is one of the many top cryptocurrencies in the world, and it is currently in the top ten, to be exact, as its significance is back again after quite some time. It dipped to the number 13 spot, even lower than that, but it did not shy away from the top charts since its drop and the rise of others.

Now, Elon Musk is expressing his intent to keep supporting Dogecoin, with him going as far as to buy the cryptocurrency.

Dogecoin is Back in the 10th Spot and Thrives

According to CoinMarketCap, Dogecoin is now in the tenth spot in the top charts for the circulating cryptocurrencies available in the world. It is a massive achievement, and it helps the cryptocurrency gain more traction and purchases from the public to continue its track and growth.

Its value is currently at $0.05823, and it is presently rising and dipping in constant flux. Nevertheless, its valuation plays around the said price, and it gained a massive 11.85 percent over the last 24 hours but is still down by 4.97 percent over the past seven days.

The cryptocurrency is still a massive name in the industry, and it is because it has vast backers and believers known to the public.

Elon Musk to Keep Support, Buy Doge

Elon Musk made a statement online, and the tech CEO said that he would continue to support Dogecoin but did not specify anything in particular regarding this tweet. One user replied to the billionaire, saying that Musk should keep buying the coin if he is genuinely supporting it, to which Musk answered that he is currently doing so for his continued patronage. Musk is a known believer of Dogecoin, and he still does so, despite the many issues and controversies regarding it.

Dogecoin and its Prominence

What makes a cryptocurrency successful? It has got to have a catchy name, a personality, and its believers that would continue to support and purchase the digital coin. Dogecoin is one of the top-known coins in the world, and the cryptocurrency, whose creator is still unknown, has many believers in it, with Robinhood's CEO believing it is the "future currency of the internet."

One of the top believers of Dogecoin is none other than the tech CEO and top billionaire Elon Musk, that still campaigns for the cryptocurrency until the present. From previous SEC run-ins due to his tweets that influence the market, Musk is still upholding its view on Doge, especially as it is the only cryptocurrency Tesla will accept in transactions.

Dogecoin is not expensive, but it is one prominent cryptocurrency that gives the many public opportunities to invest and purchase the digital blockchain in the industry now. It is not costly, but it is a massive coin in the market, especially with an enormous circulation and volume available in public now, with a top executive as one of its believers.

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Written by Isaiah Richard