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- Even though the crypto space seems to be diving deep into the ocean, Elon Musk is signified about Dogecoin.
- Here’s yet another instance when Elon Musk has shown his positive thoughts about Dogecoin (DOGE).
- DOGE is currently trading at $0.08817 and is up by around 0.70% in the last twenty-four hours.
The crypto sector has been witnessing a lot of ups and downs lately. The month has not proved very favorable for the sector, but Elon Musk seems quite optimistic about Dogecoin (DOGE).
And recently, on May 13th, Billy Markus, the Dogecoin co-founder, tweeted that the reason he likes Dogecoin is because it knows it is stupid.
And to this comes Twitter’s new owner’s answer, as he Tweeted it has potential as a currency, which has once again helped ignite hopes for the Dogecoin community.
Billy Markus, commonly known as Shibestoshi Nakamoto on Twitter, is the co-founder of the popular Dogecoin who left it years ago, highlighting negative experiences such as fraud, etc.
Elon Musk’s positive reply about DOGE has gained around 50.2k so far from several Dogecoin supporters who expected that it might bring a pump in its price.
But just like others in space, DOGE is also witnessing a massive plunge since Musk hosted Saturday Night Live (SNL) when he started to promote the coin last year. Musk has been believed to be a primary reason for the coin’s popularity as his statements have often resulted in its positive movements.
In an interview, he signified DOGE as a superior form of digital payments than the traditional cryptocurrency. Earlier, he also announced that Tesla has started to accept payments via DOGE for its merch.
Amid all the bearish movements in the crypto industry, it is to look forward to how Musk might further affect Dogecoin’s price and popularity.
At the time of writing, DOGE is trading at $0.08817 with a market cap of $11,697,166,588 and is up by around 0.70% in the last twenty-four hours.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
