Elon Musk still Supports Dogecoin even though the market is bearish
Tesla and Spacex CEO Elon Musk has reaffirmed his commitment to dogecoin (DOGE). He confirms that he will hold shopping for and supporting the meme cryptocurrency.
The fee of dogecoin climbed following his statements amid a crypto market downturn.
Elon Musk Reaffirms Commitment to Dogecoin
Tesla CEO Elon Musk reaffirmed his support for the meme cryptocurrency dogecoin some instances this weekend. On Sunday, Musk tweeted that he'll keep helping DOGE. He also indicated that he's going to preserve buying the meme coin.
On Saturday, the Tesla boss additionally referred to DOGE on Twitter in response to a tweet by using Dogecoin co-writer Billy Markus stating his “preference” for human beings to use DOGE “for some thing beyond pump and sell off … so it has a cause to exist.”
Musk tweeted that dogecoin may be used to purchase products at his corporations, Tesla and Spacex, hinting that greater may be supplied “down the road.”
Tesla started out accepting dogecoin for a few merchandise in January. Last month, Musk stated Spacex will quickly take delivery of DOGE for products and Starlink subscriptions ought to quickly follow healthy.
At the time of writing, DOGE is buying and selling at $0.062662, up 25% within the past 24 hours but down 30% during the last 30 days.
Musk has lengthy been a supporter of dogecoin. He is known within the crypto network as the Dogefather. He believes that DOGE is the human beings’s crypto and has potential as a forex. In assessment, he stated bitcoin is more appropriate as a store of value.
The Tesla leader also formerly revealed that he in my opinion owns some DOGE similarly to BTC and ETH.
Last week, a dogecoin investor sued Musk, Tesla, and Spacex for selling the meme crypto. The $258 billion magnificence-action lawsuit alleges that Musk and his groups “falsely and deceptively claim that dogecoin is a legitimate investment while it has no price in any respect.” The plaintiff claims that Musk, Tesla, and Spacex “are engaged in a crypto pyramid scheme (aka Ponzi scheme) by manner of dogecoin cryptocurrency.”
Musk also hinted ultimate week that cryptocurrency bills will be incorporated into Twitter if his bid to buy the social media agency is a success. However, the 444 billion deal is presently on maintain, and Musk has accused Twitter of a fabric breach of their merger agreement.
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