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Stunning Dogecoin Allusion from Elon Musk: Superior to Bitcoin and Shiba Inu

While the race of meme-based altcoins continues in the crypto money market, new developments and explanations continue to come up. Tesla CEO Elon Musk considers Dogecoin (DOGE) as a means of payment to be superior to Bitcoin (BTC) and Shiba Inu (SHIB).

“Dogecoin is superior to Shiba Inu and Bitcoin”

Elon Musk liked a tweet shared by Billy Markus, co-founder of Dogecoin, the largest dog-themed altcoin, comparing transaction fees in Dogecoin, Bitcoin, and Shiba Inu . Dogecoin has activated the long-awaited software update to reduce transaction fees on the network to just 0.01 DOGE (about $0.002) per kilobyte. Thanks to the latest update, sending DOGE is now much cheaper than Bitcoin and Ethereum-based Shiba Inu. The tweet in question also addressed this fact.

Elon Musk confirmed last month that he is not investing in the Shiba Inu. This admission of Musk did not prevent the second-largest dog-themed cryptocurrency from breaking new records and surpassing Dogecoin in market cap, albeit for a short time. The billionaire businessman pitted himself against Bitcoin supporters in late May for siding with Bitcoin Cash supporters in a debate about transaction fees. In August, he expressed his agreement with entrepreneur Mark Cuban that Dogecoin (DOGE) is the strongest cryptocurrency in terms of trading and payment mechanism.

The Elon Musk factor made DOGE a phenomenon in the USA

Gamblers Pick, a gaming website, conducted an extensive survey to find out the public's opinion of Dogecoin. The researchers targeted a group of 1,000 participants familiar with the cryptocurrency industry in the US. The survey had a 95 percent confidence interval with a 3 percent margin of error. 10.7 percent of the respondents were aged 55 and over, 22.6 percent were between the ages of 41 and 55, 60.8 percent were between the ages of 21 and 40, and 5.9 percent were between the ages of 18 and 20.

 1 in 4 respondents believes that Dogecoin (DOGE) is the new Bitcoin (BTC). Also, 23 percent of respondents strongly believe that Dogecoin will reach $1 by the end of 2021. The average investment that respondents made in the asset was $227. With this high expectation of the digital asset, only 53.6 percent of those surveyed invested in Dogecoin to get rich overnight.

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