Dogecoin, a meme-based cryptocurrency, is now eligible for purchase at Coinflip ATMs in 45 of the 50 United States.
It will be available at more than 1,800 ATMs across the country. Coinflip, a Bitcoin ATM provider, recently announced that Dogecoin has been introduced as a purchasing option due to DOGE’s “popularity and recent mass acceptance.” Coinflip ATMs are currently installed in 45 of the 50 US states. Bitcoin (BTC), Ethereum (ETH), BinanceCoin (BNB), Dash, Litecoin (LTC), Connect, USDC, and Stellar Lumens (XLM) are currently sponsored by Coinflip ATMs.
With more cryptocurrencies joining the mainstream, there’s a fair chance the ATM provider could increase its crypto asset offerings in the future. Elon Musk, the founder of Tesla and SpaceX, tweeted about Dogecoin, which helped it gain a lot of attention. Within minutes of Musk tweeting a simple “Doge” on his account, the cryptocurrency had risen by 25%.
In addition to Elon Musk’s playful pumping of the coin, DOGE has gained support from the Reddit community WallStreetBets (WSB), which was responsible for GameStop’s stock skyrocketing. After the GameStop buzz disappeared, retail investors changed their emphasis to cryptocurrencies. DOGE’s price has risen by 85 percent as a result of WSB’s promotion.
According to Forbes, Mark Cuban, the owner of the NBA’s Dallas Mavericks, claims that DOGE‘s increase in popularity is positive for the cryptocurrency industry. He elaborated:
“Doge gives you a better chance of winning than a lottery ticket all while teaching the economics of supply and demand and introducing people to crypto assets. I truly love it as the lowest cost economics teaching tool available that entertains at the same time.”
The meme-based cryptocurrency is currently up around 4% in the last 24 hours, and its market capitalization has exceeded Wrapped Bitcoin (WBTC), which is now $6.6 billion.