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- Elon Musk is the biggest supporter of DOGE.
- He faced criticism for being to invested in crypto.
- He is the owner of Twitter, Tesla Motors, SpaceX and Boring Company.
Elon Musk is a visionary entrepreneur and philanthropist who has changed the face of business, energy, and transportation. He is also the founder of SpaceX, Tesla Motors, and the Boring Company, and his impact can be felt across the globe.
How Elon Musk Popularised Dogecoin?
In 2021, Musk made headlines again, this time for his involvement with Dogecoin, a popular cryptocurrency. The coin had been around since 2013 and while it was never the most popular, it had a loyal fan base. However, when Musk began tweeting about Dogecoin, it soon exploded in popularity and value.At first, Musk was merely showing his enthusiasm for the coin. He began making jokes about it, as well as highlighting its potential as a currency. He even started accepting it for payments for some of his businesses.
Musk is the Protagonist for DOGE
However, as the market for Dogecoin grew, Musk’s involvement with the currency began to get more serious. He tweeted about the currency’s potential for mainstream adoption, and even became the coin’s “chief executive officer” (CEO). He also began to actively promote Dogecoin, both on Twitter and through SpaceX.Musk’s involvement with Dogecoin made investors take the currency more seriously, and its value skyrocketed. In February 2021, it hit an all-time high of $0.08 per coin, an increase of over 10,000% since the start of the year.
Despite the incredible success of Dogecoin, Musk has also faced some criticism for his involvement with the cryptocurrency. Critics have accused him of being too involved in the market, and of manipulating the price of Dogecoin. They have also said that his involvement makes the coin riskier, as it is more vulnerable to market volatility.
In the past few weeks, the Twitter CEO gave the dog-coin a silent treatment, and did not react to any news surfacing regarding DOGE. The fans were in dilemma and feared losing their biggest supporter. But finally after weeks of silence, Musk teased the community with a Twitter post where he posed his pet dog as the new Twitter CEO. This flushed the DOGE fans again which was reflected in the DOGE prices.
Conclusion
Nevertheless, Musk’s involvement with Dogecoin has undeniably been beneficial to the currency and its community. It has brought a lot of attention to the coin, and made it possible for it to become a viable currency and investment. Overall, Elon Musk’s involvement with Dogecoin has been a huge success, and it has helped to bring the coin to the attention of millions of people around the world. As the currency gains more mainstream acceptance, it will likely continue to be a major part of the cryptocurrency world.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
