Tesla CEO Elon Musk has dropped out of a reason why he is endorsing Dogecoin. In an interview at the Qatar Economic Forum in Doha, Musk told Bloomberg, “Many people who are not that rich have encouraged me to buy and support Dogecoin. I am responding to those people.”
Elon Musk has been a vocal advocate of Dogecoin since April 2019, when he tweeted about Memecoin being his favorite cryptocurrency. Dogecoin hit an all-time high of $0.76 just before Musk’s appearance on “Saturday Night Live” in May 2021, when fans thought he would mention it, then fell when he dubbed it a “hustle.” .
Fast forward now, and the SpaceX CEO is still a staunch supporter of Dogecoin. Musk said on Sunday that he would continue to support Dogecoin and also indicated that he would buy Meme Coin.
You’ve always been serious about endorsing the coin for what I consider to be the right reasons – you find it amusing, appreciate sarcasm and irony, and you think it has potential as currency – and Your companies accept it for business, give it more utility— Shibetoshi Nakamoto (@billym2k) June 19, 2022
in reply to tweet, Billy Marcus, or “Shibetoshi Nakamoto,” co-creator of Dogecoin, suggested the reasons why he thought Musk was in favor of Dogecoin: “You’ve always been honest about supporting the coin which I do for the right reasons. But consider it—you find it amusing, appreciate the sarcasm and irony, and you think it has potential as currency—and your companies accept it for business while providing more utility. “
Over the weekend, the Dogecoin co-creator expressed his hopes for Dogecoin in a thread of tweets. First, he wants Dogecoin to have a reason for existence. Second, he also wants the community to understand what crypto is and what a crypto market is. Third, he wants people to keep improving Dogecoin and adding utility.
Tesla CEO Elon Musk too reacted In support, “Tesla and SpaceX merch, probably down the road,” and also “more currency-like” to the Dogecoin co-creator’s wishes, for reasons of utility and survival.
As previously reported, Elon Musk is facing a $258 billion lawsuit for promoting Dogecoin. However, as seen in his recent tweets, CentBillionaire seems unwavering in his support for Dogecoin.
Dogecoin Price Action
At the time of publication, Dogecoin is up 5.41% at $0.062, but is down 64% so far in 2022. The meme cryptocurrency rose nearly 9% on Sunday after Musk tweeted that he would continue to support it and that he would continue to buy it.
Whale Leaderboard: https://t.co/gGAxYJttsDJune 20, 2022
According to recent data from WhaleStats, Dogecoin is one of the top most used smart contracts 2,000 bsc whalesWho now has DOGE worth $11,841,592.