Elon Musk Continues To Support Dogecoin: “To The Moon”

During a recent Twitter Spaces chat, Tesla CEO Elon Musk confirmed his support for Dogecoin.

Musk stated that the social media platform wished to make it easy to trade the top meme coin. When questioned about the famous Bitcoin spoof, the billionaire said: “Dogecoin to the moon!”

Dogecoin witnessed a big price increase in October as a result of Musk’s $44 billion acquisition of Twitter. The market anticipated that the billionaire would include the $14 billion meme currency onto the platform.

Elon Musk‘s most recent remarks should reassure DOGE investors since they indicate that the temperamental billionaire does not intend to forsake the meme coin just yet.

However, the value of Dogecoin fell when Twitter apparently abandoned its ambition to incorporate a native cryptocurrency wallet in the aftermath of Musk’s takeover. At the time of writing, DOGE is trading at $0.103.

DOGE daily chart. Source: Coincu

Elon Musk is known to be a supporter of Dogecoin, the popular meme cryptocurrency. According to Business Insider, the US billionaire started mentioning DOGE in 2019, he often posts promoting this type of memecoin.

Dogecoin is a prank coin created by computer engineer Billy Markus and marketing expert Jackson Palmer to criticize the Bitcoin craze since 2013. This coin is based on Litecoin, and has a fast mining speed compared to other Bitcoins. other and unrestricted digital currency like Bitcoin.

At that time, communities like Reddit helped Dogecoin’s market cap grow to $8 million. The platform’s users use DOGE to give each other as a morale booster for individuals who have contributed content on Reddit.

In 2019, Musk first mentioned Dogecoin on his personal Twitter. In early May 2021, Dogecoin peaked at $0.739, an increase of more than 14 times compared to the price at the beginning of January 2021. The price hike comes before Elon Musk’s appearance on Saturday Night Live. Before the show, Musk repeatedly tweeted about Dogecoin on his personal Twitter.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6

Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…

28 minutes ago

Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!

As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…

2 hours ago

Which Crypto Will Explode in the 2024-2025 Bull Run?

With the crypto market reaching new peaks, many are eager to discover digital currencies poised…

2 hours ago

Dogecoin and Shiba Inu Approach $1, but All Eyes Are on XYZVerse’s Push to $10!

XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…

2 hours ago

Will Bitcoin Crash or Soar Past $105K in 2024?

Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…

3 hours ago

The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!

There’s always that one coin people wish they hadn’t overlooked. For many, Cosmos ($ATOM) is…

4 hours ago

This website uses cookies.