Kiss Bassist Gene Simmons Invests in Dogecoin and XRP

The musician and Kiss bassist Gene Simmons spoke about his investments in cryptocurrencies amid the rise in Dogecoin (DOGE) and XRP.

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’m not recommending any of this to anyone. But yes, I bought Dogecoin, XRP and other crypto assets,» wrote Simmons.

Opinions in the community were divided. Some backed the Kiss member, while others urged him to choose cryptocurrencies wisely.

Choose wisely. No of these pump and dump coins are in the top 10 at the end of they year.https://t.co/FoRkZDdUil

— Matt • ₿itcoin 🌐 (@Matt__Bitcoin) February 1, 2021

The rock musician announced his investments on February 1, when Ripple token grew by 47% and returned to third place by market capitalization. After reaching the $0.75 mark, the XRP price fell below $0.45.

As of writing, the token is trading at around $0.37. It ranks fourth in market capitalization with a figure of $17 billion.

Data: CoinGecko.

On January 29, DOGE’s market value over the day rose by 470% and hit a new all-time high at $0.078. The current DOGE price is $0.034.

The pump of the coin was urged by the Reddit community r/SatoshiStreetBets. It calls itself the crypto analogue of the r/WallStreetBets subreddit, whose participants sparked a rapid rise in GameStop stock.

As a reminder, adult-film star Mia Khalifa bought DOGE amid the coin’s rally.

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