Elon Musk Again Sparks a 10% Rise in Dogecoin: The fact is rife that Elon Musk is a massive proponent of Dogecoin who looks out for opportunities to promote Dogecoin on any platform he gets his hands on. His comments on Twitter about the meme cryptocurrency have enough power to fluctuate the prices of other cryptocurrencies in just a moment.
It had already happened in the past when a single Tweet from Elon Musk-led to a fall in the prices of Bitcoin when his company denied accepting payments in Bitcoin. Hence, his name is somewhat attached to the crypto industry directly or indirectly, and his opinions matter a lot on topics like cryptocurrency.
However, Dogecoin seems to be his favorite and most favorable cryptocurrency, which he keeps promoting on numerous social media platforms. However, Dogecoin seems to be his favorite and most favorable cryptocurrency, which he keeps promoting on numerous social media platforms. on this page, you will know how much you can enjoy different ways in crypto currency and other methods in contrast to dogecoin.
What’s next for Elon Musk?
Well, the fact is that his opinion is not just based on fluff material but actually carries significant weight into it as Dogecoin is considered to be the most economical cryptocurrency in present times.
The transactions cost in this digital currency is almost negligible, which makes it sit atop most of the prominent cryptocurrencies in the likes of Bitcoin, Ethereum, Polkadot, Axie Infinity, Solana, Tether, and other altcoins. Even Metaverse coins are competing directly with Dogecoin, which highlights the fact that Elon Musk is not just all about the words but actually does his homework before pitching his opinion worldwide. Will mention some of the further details as to what implications and relevance Dogecoin carries in this hypercompetitive crypto industry. Elon Musk continues to promote Dogecoin, while some people might think he is going a little over the top in promoting the digital asset.
The rise of Dogecoin
The 10% rise in Dogecoin reflects that this cryptocurrency carries significant relevance in the crypto industry, and the trend seems to continue for the years to come.
The market cap of this particular cryptocurrency has already crossed the $20 billion mark, which is a significant achievement considering the latest downfalls that the crypto industry has witnessed in the last few years. The overall volume remains strong and will stay the same as the stakes have gone considerably higher after receiving a decisive push from Elon Musk. As per the latest statistics revealed, Dogecoin dealings crossed the $1.5 billion mark in just one day, which can be attributed to the repetitive push that the cryptocurrency received from the billionaire entrepreneur.
Food for thought
Elon Musk is also considering building his own version of the social media platform, which will allow Dogecoin to be used as a form of transaction. However, Elon is not immune to the dogs that people take on him sarcastically whenever he mentions anything too outlandish that takes people off guard immediately. He also receives continuous suggestions from the social media users as to what exactly he should do with the plans and ideas that he keeps pitching overtly.
You know for sure that the future belongs to cryptocurrencies and other such digital assets, but you might not know that such digital assets hold a unique value proposition that attracts a pool of investors. Dogecoin might not help in many cases, but it still is in circulation because it caters to the subtle needs of the people who are fairly acquainted & familiarized with the technology & the concept of cryptocurrency.
The prominence of cryptocurrencies is prevalent not only in the digital world but also in the physical world as people, corporates, businesses, and other ventures have realized the significance of cryptocurrencies in real-time. Now, Dogecoin is one such cryptocurrency that is being backed by one of the most influential figures in the crypto industry, Elon Musk. Does it seem fair that one digital asset gets all the media attention while others struggle to get their respective share? Well, that’s what happens when everything is up for grabs.