Opinion

DOGE Vs. XRP: Which Asset Is More Deserving Of Musk’s Advocacy?

Author: Sohrab Khawas

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    Mason Versluis, a well-known businessman and financial influencer with 1.2 million Titok followers and a presence in the cryptocurrency industry, has commented on billionaire Elon Musk’s fervent support for meme currency Dogecoin (DOGE). He believes Elon Musk should have focused his ardent advocacy on XRP rather than DOGE.

    Versluis gave his thoughts on the matter on Sunday while expressing his confusion about the billionaire’s decision. Versluis tweeted, “I’ll never understand why Elon Musk would select DOGE over something like XRP,” which, naturally, elicited a range of responses from the larger crypto community.

    Versluis’ most recent comments were a reflection of the inner sentiments of other crypto advocates, as several people voiced a similar sense of confusion. One NFT investor and primary developer for CubeX specifically claimed that there might be some kind of unique relationship between Musk and the DOGE team or a promise of future ownership. 

    Musk is also well-known for his ongoing Twitter conversations with Billy Markus, the co-founder of Dogecoin.

    XRP Critics Flock To Defend DOGE

    Despite the widespread ambiguity, some people have argued that DOGE is preferable to XRP in several ways; hence, Musk’s decision is acceptable.

    In response to Versluis’s tweet, a member of the community commented, “Even DOGE has more usefulness than XRP,” claiming that the meme coin will probably achieve $1 in the upcoming bull run while XRP may even struggle to reach its previous all-time high (ATH).

    Another commenter claimed that the billionaire’s choice was likely motivated by the fact that DOGE had superior tokenomics to XRP. He stated that DOGE is superior to the dollar since it is constantly diluted, unlike XRP, which is around 48% diluted despite having no maximum supply. “Doge is superior for use as spendable currency,” he continued.

    DOGE exceeds every other asset in the top 20 list of most valuable cryptocurrencies by market cap; as of press time, it is trading at $0.095 after gaining 24.60% over the past week. Additionally, XRP has increased 8.64% over the past week and was trading at $0.38 at the time of the publication. 

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