Bitcoin Forum

Elon Musk's praise towards Dogecoin, has made the "meme" coin soar towards new heights. He continues to spread positive comments about it, resulting in increased interest from people in the mainstream world. Yet, it seems to me that Mr. Musk doesn't know much about Dogecoin. The cryptocurrency was never meant to be taken seriously with a high inflation model and its track record of abandoned development. It could be that Elon Musk is "shilling" Dogecoin in order to fill his pockets with money. If he invested before the craze, he would've made a lot of money by now. It's yet to be seen what his true intentions are.

What are your thoughts about Mr. Musk's reactions towards Dogecoin? Is he a "shill" or not? What will be the outcome of Dogecoin's price after the hype comes to an end? Your input will be greatly appreciated. Thank you. :)

He's obviously shilling Dogecoin but it's a different thing from the usual shillers that we see in the market. Probably some of us have already understand that he's just doing it to have fun and the welcoming reaction of the market makes him more active to it.

I think that he understands really a lot in cryptocurrencies. At least, he's meme-ing for Dogecoin not to any other altcoin that he might be criticized and hated by the community.

It's definitely a shill, there are a lot of coins better than DogeCoin, imagine if he bought DogeCoin two months ago without announcing it he'll definitely already made a lot of money, and the way he promotes can be considered a shill he is all praise without valid and good comparison why it is better than those who are on to of the standing, I'm not against DogeCoin but there are a lot of good coins that's worth promoting and just waiting for the right time for investors to see their platform, we'll see if Musk will tweet other coins for another round of shills.

I believe Elon has a boyfriend or girlfriend or relative, who bought too much of Doge. That's all, this is my conspiracy.

To be honest he is proving to be more than doge shill he is lile crypto shill because he recently changed his bio at twitter with bitcoin that created some waves and also his 1.5 billion btc investment via tesla created the desired fomo and price of btc pumped over 20 percent in a day so im loving what he is doing for the market.

I don't think that would be true, doge coin is among the oldest coin that was established years ago, already Doge coin had been stable and liked by every investors, so definitely, dogecoin price will be successful even if Elon musk stop tweeting about it. Remember that every coin has their specific time for them to pump, same pump happened too on several altcoins in the Binance market, so who's actually the shiller behind them? Think about it.

he should shill doge but at the same time, he was only joking about all of his words. It's strange with only his joke and he can controls the doge market like how to make it pumping or dumping when he says that's a bad coin.
The big influencer has a very big power to do that dude. lol
Elon was only creating jokes and no more. That means if the community was giving over reaction to any tweets that created by elon musk.

NO, it's not him who controls the market, it's his followers. And they are the losers.

my opinion about elon musk against the doge is that he can raise one of the coins that many have doubted since long ago, with his help, the price of the doge could increase. but i still ask if this hype will last long or only while elon musk is still there?

Do you mean that he fooled people who buy Doge? Maybe he is joking also that he buy's Bitcoin.
But it wasn't like that, though we think is just joking, but we can see that the price rises and these holders are so happy with what he does. I respect him actually, he's a market influencer, and he can easily make changes if he wants. It was a different look from what we see now and empowered the market demand to a higher level which is not a joke at all. He is hyping instead.

NO, he is a nearly nothing, like any other leader too. The move is made by the masses.

The masses need a leader, and this they create a leader. But the leader itself is nearly nothing, a wrapper only.

He has the right to shill even if he hasn't invested it, the movement of Dogecoin to the top is not only because of him, but mostly because of people who trusted him and it's normal in the market as this speculative market, we always easily react to rumors and news, and even shills from people with influence in the world.

Call it a shill or what, but what matters is he knows how to move the market and that has become Doge an interesting coin now.

He already confirmed it but did not divulged the amount or numbers but being the richest man on Earth he has bags bought when Dogecoin is still very rich, and there's a possibility that he will dump it soon and move on to the next coin to shill so cross your finger that it will be the coin you have a lot.

I believe Elon just happy fun with his tweet, he gets rid of the boredom of his hard work in the company. he wants to know how many react people when he wrote about crypto, this like a result of his company's market for the next strategy. I don't feel so much if he owns those all.

At first, I just saw Elon joking with tweets that were made about Dogecoin. but after seeing how he managed to pump bitcoins by putting their money into crypto I think there is something serious about Elon regarding the crypto market. It's not just a matter of jokes and meme coins anymore. Elon is really serious about the crypto market.

Why do people think of Dogecoin as a useless coin? Whereas Dogecoin with the help of Elon provides good news for Dogecoin lovers.
I think most people will use Dogecoin for withdrawal fees because of the low fees at Dogecoin.
Shilling or not clear Elon has given the best price for Dogecoin for they those who hold Dogecoin or buy Dogecoin at a low price.

calm down my friends, every asset has lovers and people who do not like it. people can feel something bad because of their past experiences with doges. but when in the pump they cannot benefit from it.
Dogecoin is widely used as an asset for withdrawals from several exchanges. Even when currently the transaction fees for most coins from several platforms have increased I believe Dogecoin is one of the most sought after coins today. besides the price which has increased due to Elon.

I guess you owe your gratitude to Elon Musk for shilling dogecoin to the public and given it unsolicited attention,  before now how many people knows dogecoin even with the ridiculous cheap transaction fees? Not so many,  my thinking is, Elon probably has someone close who holds some doge and fill frustrated about the low price and he offered to help tweet about it to help boost the price, very logical if you ask me.

I hope Dogecoin lovers can always count on Elon to help push the price up every time the price is down.

I trusted and invested in Dogecoin. Unfortunately, it has upset me so far. It turned out to be an unnecessary pump for me. But let's see what happens in a tweet.

LOL, maybe  ;D.
He always tweeting about dogecoin nonstop maybe testing his influence? but if he already did that for months doesn't that means he's just trying to hype up dogecoin and increase the demand somehow?
Honestly the one who knows whether he's just shilling or not is elon himself but considering that he's already a billionaire I think he just doing it out of trolling or to relieve stress it's like a dang game after all.

Okay, let's say that he is just playing the market now but I don't think he could able to stick for this long in crypto if he is just joking. IMO, he's not. He is shilling Doge for one reason and that he wanted to make money for this. He hated crypto before but he loves it now. It is to accept that he's changing his mind now, and the influence that he has it gives us a huge surprise.

What he does can't be just ignored, he makes another story anyway in the crypto world. He is supporting it now and supposedly we are happy, everyone has their benefits for what he did. 

Lol, your title is funny in my opinion. Anyway, in any way, Elon Musk has repeatedly shown confusing and unexpected opinions. What Elon blew into Doge was actually too dreadful fomo. However, he is a billionaire with a great reputation for the crypto market, not just Tesla. Obviously he understands the volatility of the market. What is his intention after firing a series of bullets on Doge, followed by Bitcoin. Benefit is born. Surely he didn't make a farce.

Stop watching conspiracy theories at least. :D

He already said it to his tweet that he bought DOGE so its obvious that he is buying the coin he is shilling. One thing more is that it isn't his GF or BF or relative that is buying much DOGE (maybe they are but in silent) but his followers are the ones who are trying to buy it thus the price of it goes up and up. Musk has many followers so pumping DOGE would be easy if he says so. Aside from the followers, add those newbie investors who are FOMO'ed by this and hoping that they can still get profit even though it already went up that much.

Not touching this as of this moment. I know that there will be a time that this coin will go down soon.

Sure, it so obvious. Im sure that he has millions in doge coin and just want to earn even more

I don`t like how Elon Musk acts this way, because situation looks like common cryptocurrency pump or boost in any words. Many people can lose money, or already have lost them because of his tweets and I think Elon underestimates his media power. He acts in interesting way, bt it can be harmful for many people

Im not sure about that dude, We have seen that from a lot of news if elon has only bitcoin and that's also small amount of bitcoin. he was buying doge recently for his baby. He has been tweeting about that on his twitter account. Elon is not having intention to use doge as investment consider it has infinity supply combined with big inflation.
That's enough reason to call doge as the crap coin. It will be dumped again for sure.

I agree, his recent investment was into bitcoins. So he is definitely pro crypto currencies and wants to profit of the recent rally. He is working hard in Tesla and SpaceX so he probably doesn't have too much time to learn about alt coins. Best to not take his word for DOGE recommendations.

DOGE advertising by Elon Musk is indirect advertising of Binance, because DOGE is purely a binance coin and the market maker sets the pace for it on Binance. Trade and Buy DOGE = Trade and Buy on Binance. You can go to Kraken, but it's not trendy or youthful.

Honestly I don't know this, why do you call DOGE as a Binance coin?

Is it because it has Binance owned the biggest trading volume of this coin, or something else?
Sorry, I'm being ignorant as I don't really follow what you were saying.

Doge and Elon Musk have nothing to do with Binance. Binance is just a market and I don't think there's an urge to buy Doge. only Elon Musk tweeted about Doge and that made Pump's price high yesterday. I think you are wrong in giving your opinion on Binance's unrelated Pump doge yesterday

I personally think that Elon Musk is a shill but to a certain extent.

When he tweeted about Dogecoin, its price on the market skyrocketed and lots of investors rode the hype train in hopes of earning long-term investment. He also tweeted that he will give his full support to a MEME coin in the market. Maybe after a few months, he will definitely cash-out his winnings plummeting its price on the market.

^ Definitely right, there is no correlation between them. Binance is an exchange that very popular and it is different from Elon Musk which is a mass influencer. Probably this Elon Musk had an investment in DOGE back then and since he is a very influential person, he used his power to promote Dogecoin and if you see after the shills dogecoin, it has a massive pullout which is probably he sell his holding. Just like on BTC, right after he promoted it and put it in his Twitter bio, he accepts this as a mode of payment.

Yap you are correct,there is no correlation between them and i also think that he was only going to stimulate this but he is an influencer so he give hyped for DOGE,currently its price was crazy going increase when he tweeted about it.

You must see the latest tweet from elon and it's clear if he was only manipulating the doge market. So many parties have been talking about this consider after his tweet and doge coin gets dumped.
That could be the end of doge if elon will be creating another bad tweet about doge. It's easy for him to drive the trend.
That's crazy.

which makes me confused why and why he did it all. If that could happen to Doge, I think there is a chance that the market will also experience a bad correction soon, not just Dogecoin.

Don't know if he is being a known shill for dogecoin in his own eyes.
But I did hear tesla is thinking of allowing you to mine doge while youre charging car up at their powerstations.
Now this would be an interesting development for crypto mining as a whole.

Couldn't agree more with you, mate. Dogecoin's sudden rise is largely attributed towards Mr. Musk's positive comments across social media platforms. Being a prominent figure like himself, comes with its benefits. As long as Elon Musk keeps shilling Dogecoin, prices will only go higher. But as we all know, nothing lasts forever. What goes up, has to gown down one way or another. We should expect some market correction once the hype comes to an end. The next bear market could lead Dogecoin back to sub $0.01 prices faster than you could imagine.

Nonetheless, we cannot deny that the recent pump has made many early investors wealthy. But newcomers into Dogecoin who have invested now, will regret themselves dearly once prices go all the way down the drain. What matters is not the price of a coin, but how useful it is for daily payments. I'd say that Dogecoin is certainly useful for micropayments, but development activity is non-existent. Compared to other cryptocurrencies on the market, Dogecoin is obsolete. There are far better altcoins on the market with cheaper fees and faster transaction confirmation times than Dogecoin itself. Yet, people don't care about this as they're focused on filling their pockets with money in the least time possible. As it's said in the real world, "money talks". We'll see how long Dogecoin will be able to retain its popularity as people flock to the next big thing in crypto. Just my thoughts ;D

this was the first year that the so-called memecoin Dogecoin broke its record by giving a high price that made its fans scream out loud.
I think it's also because of Elon Musk's presence. I don't think Elon Musk is a shill but a great developer and also a big Dogecoin investor. It is natural that we are grateful to Elon Musk

Yes, the effect of Elon Musk's presence on Dogecoin is very visible because I myself have never seen Dogecoin price spikes of that size in the past, so it is only natural that some people praise Elon Musk on this even though there are also losses for those who buy at that price which is high when the spike occurs.

The fact is that Elon Musk has previously repeatedly expressed that he likes Doge Coin, but at that time his words were perceived differently and nevertheless, because of this, it can be assumed that he always expressed support for this cryptocurrency. Please, not a single owner of Doge Wedge regrets what is happening, because all the excitement due to Musk's tweets brought them a good income, and the fact that someone bought a coin at an increased price is a personal decision of everyone.

Although it is interesting, if you do not take into account the date of publication of the information that Musk bought Doge for his son for $ 1.5 million, then what the chronology of events actually was: the purchase of Doge, and then the famous tweet or vice versa.

We may never know Mr. Musk's true intentions behind Dogecoin. He could be expressing positive comments about it just to pump the price of Dogecoin on the market for his own benefit. Or maybe he wants greater exposure by linking himself to crypto's ever-rising popularity in the mainstream world? Whatever the case may be, we cannot deny the fact that Elon Musk is a Dogecoin shill. Eventually, people will get bored of Dogecoin as they seek the next big thing in crypto. That's the way it works. The DOGE pump will only be temporary as the hype fades away in the long term.

Nonetheless, it seems to me that Elon Musk does not know much about Dogecoin. If he did knew about it, he wouldn't had been promoting it in the first place. Dogecoin was created as a joke cryptocurrency meant to increase in supply over time. The huge inflation present in the Blockchain, should make the coin worthless over time. There are now billions of DOGE in circulation, which means that there are plenty of coins for everyone. Something which lacks scarcity shouldn't be worth a cent in my opinion. Who knows how far Dogecoin will go in the short term as Elon Musk continues to shill the coin across social media platforms? Just my thoughts ;D