Elon Musk’s highly anticipated “Saturday Night Live” debut is hours away and expectations for multiple Dogecoin references and jokes are high. While investors and analysts are interested in seeing how the SNL extravaganza plays out for the popular cryptocurrency, it isn’t too late to buy Dogecoin now.
If you are looking for answers to how to buy Dogecoin, read this guide.
How & where to buy Dogecoin right now?
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The price of Dogecoin has already gained 12,000% since the start of 2021 but if Musk drops references to Dogecoin on SNL, it is conceivable that new all-time highs will be established. If you want to buy Dogecoin now, the first step is to select a reliable cryptocurrency broker.
Our team of financial experts identified two leading cryptocurrency brokers that offer the ability to buy Dogecoin.
Fintech giant eToro added Dogecoin to its platform in recent days but the broker’s track record spans more than 10 years. EToro is one of the fastest-growing cryptocurrency brokers in recent years and its momentum is merely picking up after inking a deal to list its stock on a major American public stock exchange.
If you want to buy Dogecoin, setting up an account on eToro is the first step in the right direction. Click the link below to get started:
Plus500 is a Contract For Difference (CFD) broker that boasts reliability, low fees, and a user-friendly interface. A CFD is slightly different than a standard broker. Instead of buying an asset outright, for example buying Dogecoin, the investor owns a derivative product that changes based on the performance of the underlying asset.
Setting up an account on Plus500 is straightforward so if you are searching for how to buy Dogecoin, Plus500 is an excellent option. Click the link below to open an account:
What is Dogecoin?
Dogecoin is a cryptocurrency that was created in 2013 as a joke but recent endorsements from several billionaire investors like Musk and Mark Cuban has created a new interest for the coin. Even professional investors and traders are wondering what is Dogecoin and how to buy Dogecoin as it was virtually unheard of before late 2020. Dogecoin currently has a circulating supply of 127 billion, with 113 billion coins already mined.
Musk said in February he is interested in Dogecoin because he simply loves dogs and memes. While certainly raising visibility for Dogecoin, fellow multi-billionaire Cuban may have made a better case for investors to buy Dogecoin. The owner of the NBA’s Dallas Mavericks is accepting Dogecoin as a means of payment for tickets. He wrote in a Tweet:
Meme coins like Doge only work if they gain utility and users use them for that utility. As long as you can spend Doge , because we know it’s annual inflation rate is set at 5b coins, it can gain SOME value as the utility grows. It becomes like any other currency.
Will Elon Musk lift Dogecoin price during SNL?
The 2021 GameStop saga taught us all one thing: anything is possible when it comes to investments in meme stocks and cryptocurrencies. While Musk is guest hosting a comedy show, Dogecoin backers are hoping for a surprise announcement. Given the billionaire’s eccentric attitude and a history of controversial activities, such as taking a puff on Joe Rogan’s podcast, nothing will be off the table that could push Dogecoin price one inch closer to the moon.