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Wednesday, May 19, 2021

Why Dogecoin is worth more than Ford and Twitter at the moment

By the looks of it, Dogecoin is currently worth more than Ford and Twitter.

Dogecoin vs Twitter – Does Dogecoin have a higher value?

Although Dogecoin started out as a cryptocurrency joke, its worth has now reached $49.8 billion, exceeding Twitter with $44.1 billion and Ford with $45.2 million.

On the report of the Asset Dash list, Dogecoin’s position is at No.255 and it’s listed right underneath Newmont Corporation which ranks at No.254, also known as one the most substantial gold-mining company on earth.

According to Yahoo! Finance, the paradox stands for the way Dogecoin is worth more than the basic traditional companies such as Ford or Newmont Corporation because its worth is not visible.

So what’s the hesitation with Dogecoin?

According to the owner of Dallas Mavericks Mark Cuban, Dogecoin may have hesitations since it can’t be used to purchase products at the moment.

He further tweeted about the meme-based cryptocurrencies similar to Dogecoin and the fact that unless they prove to be useful and give access to their users, they are not going to work. However, if other companies begin to use Dogecoin for certain benefits, that’s when it can be considered a functional currency.

Will Dogecoin keep up its increase?

The app Robinhood is the main reason for this sudden increase because it allows its users to purchase and sell their cryptocurrencies, however, it doesn’t let the users to draw out their Dogecoin assets.

But, according to the CEO of Robinhood Vlad Tenev, in the upcoming times the app will most likely change this by permitting its users to draw out Dogecoin along with their other cryptocurrencies assets.

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