Renowned entrepreneur and Twitter/ Tesla,ย Inc. CEO, Elon Musk, recently shared wholeย lotย of financing advice regarding Dogecoinย (DOGE), his favored digitalย currency. Withinย a conference hosted by the Wall Street Journal in London, Musk provided insightful guidance for the Dogecoinย (DOGE) community, stating, โIโm not advising anyone to buy cryptocurrency or bet the farm on Dogecoin.โ
Interestingly, regardlessย of his cautionary words, Musk expressed his ongoing enthusiasm for Dogecoinย (DOGE), highlighting its distinctive qualities such as โthe best humorโ and its association with dogs. As a prominent supporter of Dogecoinย (DOGE), Musk has frequently tweeted about the digitalย currency, often incorporating humor and irony.ย
He was even featured in a Saturday Night Live sketch in 2021, where he portrayed a financial expert explaining Dogecoinย (DOGE) to the audience. Musk has voiced his belief in Dogecoinโs potential to become a legitimate currency.
Muskโs support has pushed Dogecoinย (DOGE) higher
Muskโs endorsement has played a wholeย lotย of role in driving up the price of Dogecoinย (DOGE), although it has likewise attracted criticism. Several argue that Musk leverages his celebrity status to manipulate digitalย currency prices and question his credibility as a serious investor. Still, Musk remains steadfast in his support for Dogecoin.
The acquisition of Twitter by Musk led to a substantial surge of over 100 percent in Dogecoinโs value, with expectations that Dogecoinย (DOGE) would be integrated into the platform. Furthermore, Musk temporarily changed the Twitter logo to that of Dogecoinย (DOGE), resulting in a 35 percent surge in its price.
Althoughย while the effects of these actions were short-lived, the Dogecoinย (DOGE) community eagerly awaits further developments from Musk that may attract about new utility and prospects for this beloved Memeย Coin coin.
Talking about the price of the largest Memeย Coin coin, Dogecoinย (DOGE) is down by 3 percent in theย previousย day. Dogecoinย (DOGE) is likewise down by 9.5 percent in the last 30ย days, regardlessย of the memeย cryptocurrency frenzy that witnessed Pepe Coin shoot up by over 5000%.
