Dogecoin has once again received a boost as Elon Musk, the CEO of Tesla tweeted requesting cryptocurrency exchange Coinbase to add Dogecoin to its list of supported cryptocurrencies.
Musk wants Coinbase to list the cryptocurrency and says he will get a Shiba Inu, the dog breed featured as the face of dogecoin.
Quoting bitcoin.com, a question was directed at Musk on Friday on Twitter about Coinbase listing dogecoin. The user wrote: “Hi Elon, I saw a report that Coinbase was used for the Tesla BTC purchase (nice entry btw). Do you think Coinbase should enable dogecoin on their platform? It would enable many folks to easily access DOGE.” The SpaceX CEO simply answered: “Yes” with an exclamation mark.
Coinbase currently does not support dogecoin, a meme coin featuring a Shiba Inu. The crypto exchange is set to go public via a direct listing on Nasdaq. Its valuation jumped to more than $100 billion ahead of the IPO.
On Saturday, Musk tweeted, “Doge day afternoon,” and proceeded to describe the “Origin of Doge Day Afternoon.” The Tesla CEO wrote, “The ancient Romans sacrificed a dogecoin at the beginning of the Doge Days to appease the rage of Sirius, believing that the star was the cause of the hot, sultry weather.”
Why are you so dogematic, they ask … I’m getting a Shiba Inu #resistanceisfutile.
Musk was voted dogecoin CEO in a 2019 Twitter poll but he previously said that all of his dogecoin-related tweets are not meant to be taken seriously. “Occasionally, I make jokes about dogecoin but they are meant to be jokes. Dogecoin was made as a joke to make fun of cryptocurrencies. Obviously,” Musk revealed during a Clubhouse interview where he also grilled Robinhood’s CEO about Gamestop.
Dogecoin adoption has been boosted by Musk’s various tweets and support by celebrities, such as Shark Tank star Mark Cuban. Bitpay recently added DOGE to its list of supported cryptocurrencies and a growing number of crypto ATMs now support dogecoin.
Cuban’s NBA team, the Dallas Mavericks, has been accepting dogecoin for tickets and merchandise through Bitpay. On March 6, he tweeted:
The Dallas Mavericks have done more than 20,000 dogecoin in transactions, making us the largest dogecoin merchant in the world.
“We thank all of you and can only say that if we sell another 6,556,000,000 dogecoin worth of Mavs merch, dogecoin will definitely hit $1,” he added. At the time of writing, the price of DOGE is below $0.06.
Meanwhile, bitcoin bull Mike Novogratz says that Cuban is making a mistake by letting his sports team’s fans pay with dogecoin. “I think Mark’s making a mistake there. He’d be better off with 15 other ways to pay for his tickets,” Novogratz said, expressing concerns that investors could get hurt piling funds into dogecoin. “Let’s put people in the safest, best stuff, not, you know, these joke coins,” the Galaxy Digital CEO suggested.