333
120 shares, 333 points

Tesla CEO Elon Musk has said that Dogecoin is the “people’s cryptocurrency” after simply putting selling pressure on Shiba Inu (SHIB). Cryptocoin. com, we have compiled the details for you, let’s examine the subject together…

Elon Musk says Dogecoin is “the people’s cryptocurrency”

Famous billionaire Elon Musk spoke about his support for Dogecoin and called it the “people’s cryptocurrency”. Elon Musk explains that he sees meme cryptocurrency as people’s cryptocurrency, as many people who work for Tesla and SpaceX own it:

They are not financial experts or Silicon Valley technologists. That’s why I decided to support Doge. It sounded like people’s cryptocurrency.

https://twitter. com/elonmusk/status/1452332435266576395

In early May, when Dogecoin was on the cusp of reaching the current all-time high of $0.73, Elon Musk jokingly agreed that the cryptocurrency was his “special incentive” for people affected by the crisis. Recently, Elon Musk has once again emphasized the importance of scaling Dogecoin in a way that eliminates the need for layer 2 solutions of Lightning Network counterparts:

Bitcoin was designed with relatively low bandwidth and high latency. If both continue to improve significantly, we will reach a point where a second layer is not needed.

Elon Musk tweeted and lowered the SHIB price!

Still, the businessman’s latest attempts to boost Dogecoin have failed, as the meme coin is still 63% away from its lifetime peak. The Shiba Inu climbed to new heights on October 24th and stole Dogecoin’s shine due to intense investor interest. The second largest meme coin managed to surpass Ether in trading volume, becoming the third most traded cryptocurrency. However, Elon Musk managed to stop the terrible rally with a single tweet. When a member of the “SHIB Army” asked his boss how many Shiba Inu tokens he had, he succinctly tweeted “None.”

https://twitter. com/elonmusk/status/1452334458066149377

The somewhat short answer has infuriated the community, dropping the price of the Shiba Inu cryptocurrency by 14%. The price of the “Dogecoin killer” has now risen above the $0.000039 price level, quickly selling off Elon Musk’s negative impact. Elon Musk also urged crypto holders not to invest all their money in crypto, claiming that the real value is in creating products. Downplaying the importance of his investment, Elon Musk claims he bought Bitcoin, Ether and Dogecoin “out of curiosity”.


Like it? Share with your friends!

333
120 shares, 333 points

What's Your Reaction?

hate hate
1104
hate
confused confused
613
confused
fail fail
245
fail
fun fun
122
fun
geeky geeky
1226
geeky
love love
858
love
lol lol
981
lol
omg omg
613
omg
win win
245
win
Michael Lewis

Emperor

0 Comments

Your email address will not be published. Required fields are marked *

Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Countdown
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format