U.S. citizens will now buy Dogecoin from ATMs in 45 of the 50 states of the nation.
The popular meme crypto Dogecoin (DOGE) can now be accessed via 1,800 ATMs throughout the United States.
Leading Bitcoin ATM provider Coinflip announced support for Dogecoin on March 1, with the company’s CEO and co-founder, Daniel Polotsky, attributing a change to DOGE’s recent “popularity and recent mainstream adoption.”
On Feb. 4, the price of the cryptocurrency increased 25 percent within minutes after Tesla and SpaceX founder Elon Musk sent a rocket to the moon and added “Doge” to the comments.
Two days later, the world’s second-richest man continued his Doge shilling, posting a survey that asked if Dogecoin was going to be the future currency of the world—to which 71.3 percent of the 2.4 million respondents said yes.
The owner of NBA Dallas Mavericks, Mark Cuban, joined the conversation on Feb. 8, telling Forbes that the attention the meme coin receives is “not a bad look” for the industry.
“[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 asserts,” said Cuban. “I truly love it as the lowest cost economics teaching tool available that entertains at the same time.”
In the first two weeks of February, the price of cryptocurrency rose almost 200 percent from $0.03 to just $0.09. Since then, it has slowly consolidated around $0.05.
Some users have been speculating that Dogecoin’s price surge was not entirely organic with an 85 percent price pump coming from Reddit Group/WallStreetBets after the GameStop saga died down. A few days later, on Feb. 1, Kiss frontman Gene Simmons told Twitter users that he would buy the crypto among others, resulting in an additional 40 percent price increase over a 24-hour period.
Coinflip has seen an astronomical increase in demand over the last 12 months, with revenue more than tripled year-on-year as the company increased its ATM count from 441 to approximately 1,800 since January 2020. Coinflip ATMs are installed in 45 of the 50 states of the United States.
The company’s ATMs also support BTC, ETH, BNB, DASH, LTC, LINK, USDC, and XLM.
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