TL;DR Breakdown

• Dogecoin could be among the best investment options today.
• Mark Cuban buys several Dogecoin shares.

Dogecoin is a cryptocurrency inspired by a meme a few years ago and seems to be among the best investment options today. Billionaire investors like Mark Cuban are betting on the asset, suggesting that “it’s better than a lottery ticket.” Since its inception, this cryptocurrency has gone through ups and downs on the chart, but this year, it reached its highest peak.

Dallas Mavericks basketball team owner Mark Cuban said: “Although Dogecoin is not the best investment, it is preferable to invest in the asset than to play the lottery; it is also a way in which you can learn to use cryptocurrencies.”

Cuban is one of many entrepreneurs who accepted payments in this cryptocurrency or other digital asset pairs. He believes that the cryptocurrency could potentially rise in the market and give significant gains. Mark Cuban also invited investors of the asset to spend it on the Mavericks’ online store.

This businessman has bet on the future of Dogecoin by buying several shares. Investing in it may be critical for Dogecoin, and serve to increase its value in the coming weeks. Cuban also thinks that this cryptocurrency story is one of the strange ones he has heard: “Bitcoin functions as digital gold, ethereum as a currency, and dogecoin as a fun form of investment”

History of Dogecoin

The cryptocurrency was founded in 2014; it was only a joke between programmers that later became a form of investment. The asset has a capitalization of 40 billion dollars. This year, it has shown an upward trend since the first of January and Dogecoin has increased 60 times its value giving profits to its investors.

Dogecoin and its rise with Elon Musk

Tesla CEO and the world’s richest man Elon Musk has a short history with this cryptocurrency and its rise. This businessman creates trends out of nowhere, and the asset has been one of the benefactors of his publicity with his tweets. Musk had made a tweet recently whose content was simply: “The DogeFather,” confirming that he had purchased the crypto. This action showed an uptrend giving a 24% profit to DOGE in less than an hour.

Since that announcement by Musk, the asset has been in the eyes of wholesale investors looking to include Dogecoin in their system. The decentralized currency is in the seventh position due to its rapidly increasing capitalization.

As this cryptocurrency is used by billionaire investors, its future is very promising. The currency has shown fluidity and stability and has not lost its value even with the decline in Bitcoin value. This cryptocurrency can increase its capitalization further this year, placing itself amongst the topmost five crypto assets in the world.