On the other hand, Kiss bassist Gene Simmons does not recommend that anyone buy XRP and Dogecoin.
Rock legend Gene Simmons said he has Dogecoin and XRP in one tweet today, days after their prices soared, even when other major cryptocurrencies remained stable.
Simmons is best known as the bassist for the American rock band Kiss, which gained fame and prominence in the 1970s for his live explosive acts, use of pyrotechnics, provocative masks and the use of rockets. The band is considered the ninth best rock band of all time, according to the music service MTV.
Now, with rockstar life behind him, Simmons is looking to make moves in the crypto universe. He has already bought (or is buying) Bitcoin, Litecoin and Ethereum, but said that the Dogecoin currency and XRP were already part of his portfolio.
Not recommending any of these to anyone. But yes, I also bought Dogecoin, XRP and others. Make of it what you will.
– Gene Simmons (@genesimmons) February 1, 2021
“I don’t recommend any of this to anyone. But yes, I also bought Dogecoin, XRP and others. Do what you want, ”he said in a tweet.
Much of the response to your tweet was mixed. Some said buying XRP was a good choice (despite the token being in the middle of an ongoing process between the U.S. Securities and Exchange Commission and Ripple Labs, which focuses on the token), while others said Simmons ended the trunk package – A term used by some in the crypto space to indicate a bad investment, usually one that involves altcoins.
Simmons’ public endorsement of cryptocurrencies is part of a recent line of musicians, including rappers, who have entered the industry. While Bitcoin and Ethereum are typically the entry coins, last week saw Dogecoin (somehow) become the altcoin of choice for many celebrities.
Dogecoin traded at $ 0.08 on January 29, falling from $ 0.0007 just three days earlier. Among the high-profile buyers was former porn star Mia Khalifa, who tweeted about DOGE to her millions of Twitter followers.
But the tears followed – Dogecoin fell more than 60% to just over $ 0.02 yesterday, causing some like Khalifa to later regret his purchase. Maybe that’s why Simmons doesn’t recommend anyone to do what he did.