Dogecoin ATMs are operating in 45 out of 50 states of the US. There are more than 1,800 ATMs allowing users to buy DOGE.
The popular meme coin crypto is now up for purchase in a convenient way. Citizens of the United States can now go up to an ATM and buy DOGE using their card. Coinflip, the leading Bitcoin ATM provider, is now supporting dogecoin. The CEO of the company says that this move is motivated by the popularity and mass adoption of DOGE.
Dogecoin is a cryptocurrency with low utility. The creators found it as a joke in 2013. The logo of currency is based on a dog meme. It has an infinite supply. Moreover, the value of the doge is below $1. Being affordable and popular makes bitcoin the best suite for speculative mania. At the moment, there is 128,591,877,738 DOGE in circulation.
Elon Musk propelled dogecoin into fame with his incessant tweets about the currency. Every mention of doge by Elon’s Twitter handle brought a significant rise in the price of DOGE. For instance, the price of cryptocurrency saw a surge of 25% on February 4th when Elon wrote ‘Doge’ in the comment section of the picture containing a rocket going to the moon.
Doge has broke records of tweet volumes as a cryptocurrency. Many influencers have joined Elon in promoting dogecoin. Mark Cuban, the NBA Dallas Mavericks Owner, admired dogecoin by calling it ‘better than a lottery ticket‘ and ‘the lowest cost economics teaching tool available‘.
— Mark Cuban (@mcuban) February 8, 2021
Many users call the dogecoin’s price movements a ‘pump & dump‘ phenomena. Traders, however, are still buying it for short term profits. Hence Coinflip ATMs will increase in demand within the US.