Just like large cryptocurrencies, Dogecoin had some dark months. The fall of the markets is not just affecting the big cryptocurrencies through market capitalization. As a result, the DOGE has not been spared since trading in the red for a few months. Surprisingly, he finally went green after a statement from Elon Musk on his Twitter account.
Elon Musk, Dogecoin “Godfather”?
Elon Musk is called a successful entrepreneur. Owner of two major companies including Tesla and SpaceX, his reputation continues everywhere. However, the billionaire is not willing to run his affairs. In fact, the crypto industry offers tremendous earning potential. As a result, it attracts many investors, both individuals and companies.
Like any good entrepreneur, the CEO has seen the potential of this market and does not hesitate to get started. In recent years, Elon Musk has been very active in this sector. His zeal has already been noted for the adoption of bitcoin (BTC). The investor had no hesitation in promoting bitcoin and integrating it into payments of certain products to its companies. Despite the turmoil between investor and crypto, he continued to believe in cryptocurrencies.
Now, the creator of the first self – driving car has set its sights on another crypto: Dogecoin. The crypto meme is struggling to stand out in the market and stabilize. While the price of other assets was going well, the DOGE was struggling to reach the dollar mark. The fall in markets did not help the situation either. After a period of general panic over the future of this asset, Dogecoin makes a significant leap and surprises everyone.
Thanks to Elon Musk, the DOGE gets the beast’s hair back and goes into the top 10 cryptocurrencies. The billionaire announced on June 19 that he continues to accumulate DOGE tokens despite the current market correction. An exit that initially increased the course to $ 0.056. Currently, the crypto is trading at $ 0.068, up over 11%.
Despite legal action, the CEO continues to support DOGE
The crypto universe has suffered huge losses since the fall of Terra (LUNA). More and more people are thinking about the future of cryptocurrencies. As more and more investors make statements in support of bitcoin and cryptocurrencies in general, the publication of Elon Musk comes as a surprise to many. His behavior towards this crypto is still mixed. Recall that last May, his excerpt on Saturday Night Live sealed the course of the DOGE.
For some people, Elon Musk is pumping Dogecoin. Following a 258 billion law given by an American citizen, it would be expected to take a step back. But it’s quite the opposite, especially since this law was intended to prevent the billionaire from promoting this crypto. By claiming that he accumulates crypto tokens, he goes against the prescription of his law.
Thanks to him, the crypto canine has largely increased and climbed into a very popular ranking. Despite public protests, Elon Musk’s declaration seems to be welcomed as the price has literally exploded. But it doesn’t stop there! To boost its support for Dogecoin, it works with token developers to drive it to the same level as bitcoin. The new enhanced version is expected to be released this summer. He also stated that he intended to use Dogecoin to buy goods.
Dogecoin is currently emerging from market correction thanks to support from Elon Musk. While the markets are uncertain, DOGE jumps forward and disrupts the top 10 cryptocurrencies alongside bitcoin, Ethereum and Cardano. While the course of the crypto meme has exploded, Tesla’s CEO does not intend to stop there.
Source: Finbold
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Eddy Senga
The world is changing and adaptation is the best weapon to survive in this turbulent universe. As a crypto community manager at the base, I am interested in everything directly or indirectly related to the blockchain and its derivatives. To share my experience and share an interesting field for me, there is nothing better than writing informative and reassuring articles at the same time.
