Though DOGE Is Pumped By Elon Musk, But It Stands Nowhere Near To Bitcoin.

Though DOGE Is Pumped By Elon Musk, But It Stands Nowhere Near To Bitcoin.

2021-10-14 | Mike Hallen

Though DOGE Is Pumped By Elon Musk, But It Stands Nowhere Near To Bitcoin.

The DOGE may have had its day, and Bitcoin critic Mark Cuban is being mocked on social media. Dogecoin (DOGE) may have put big proponent Mark Cuban in hot water as it falls to its lowest level versus Bitcoin (BTC) in more than six months. DOGE/BTC was trading at 412 satoshis (0.00000412 BTC) on Oct. 14, according to data from coinmarketcap and TradingView, down from highs of 1,284 satoshis (0.00001284 BTC) in April. After months of public lobbying by both Cuban and others, including the world's richest man, Elon Musk, as Bitcoin outperforms altcoins en masse this month, the pain has been especially acute for Dogecoin investors. Nothing, however, has been able to turn the meme-based cryptocurrency's fortunes around, and now, angry critics are demanding an explanation. This Thursday, podcast presenter Preston Pysh said that Cuban's promotion of Dogecoin on U.S. national television during its heyday had been — to put it mildly - unwise. In light of Cuban's criticism of Bitcoin, fellow commentator Peter McCormack joined demands for him to remark on the issue. Users on Twitter also referenced Cuban's remark that he would rather possess bananas than Bitcoin, mocking Dogecoin's dwindling purchase power when measured in the fruit. Meanwhile, Musk has expanded his PR efforts to include Dogecoin spin-off coins, which have also seen massive increases as a result of even the most benign statements. Shiba Inu (SHIB), for example, has experienced significant selling from whales, or high-volume investors. However, the Tesla CEO was not immune to Bitcoiners' fury earlier this year, when his Dogecoin actions were slammed with accusations of investor manipulation. Altcoins are expected to see a rebirth after Bitcoin reaches its cycle peak, which is presently scheduled for the beginning of 2022, according to Cointelegraph.

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