Elon Musk said he bought Dogecoin

[iTradeChips]

Looking at the performance of DOGE now, it looks like it has corrected itself or maybe still correcting as the price is still going down. Certainly any trader would shy away from DOGE for the meantime while we see that it is going down right now. Maybe in my opinion this is all just a hype and whoever got the most of it are the winners for this quarters DOGE increase. Anyway good luck to all traders cause like I said it is risky to lose your money right now if you trade in DOGE.

[iTradeChips]

Just half an hour ago, Elon Musk tweeted that he has purchased Dogecoin. This is hilarious. Finally he is getting into crypto (may be he was here for long ago). I just got the reason behind his shilling lol.
Here- https://twitter.com/elonmusk/status/1359519541219500033?s=19

Elon musk is really shilling and hyping dogecoin to attract invest which are mostly newbie and small time investors which tend to get FOMOed. And that id true that he bought a very large and enormous amount of dogecoin which mean he is one of those big whales in dogecoin so when he decided to sell it dogecoin coin will definitely be back to where it started.

I did my own research and so far, I am not getting anything about Elon giving any mention of any other cryptocurrencies other than Bitcoin and Dogecoin. I am not able to find anything, not even a tweet or a news article that would suggest that he mentioned any other cryptocurrencies other than the one he already mentioned. I think he is really serious only on those two coins and there is nothing else he is serious in getting.

[cafee_orange]

Just half an hour ago, Elon Musk tweeted that he has purchased Dogecoin. This is hilarious. Finally he is getting into crypto (may be he was here for long ago). I just got the reason behind his shilling lol.
Here- https://twitter.com/elonmusk/status/1359519541219500033?s=19

I also had time to see Elon Musk's tweet, which he said that he bought Dogecoin for his toddler son. regardless of his desire to buy Doge coin, but with what he did it was something positive received by Dogecoin to make the price higher. If possible, someone will follow Elon Musk to buy up Dogecoin.

[ElaineGanda]

How much did elon musk invested in dogecoin? Because if it is worth millions of dollars, then it is the reason of the doge price increase. Thanks to elon musk, a lot of holders of doge get benefited of what he did. I hope he will domit again to some other altcoin.

millions of dollars? I think it's more because a rich person like Elon Musk when he likes something will not buy in small amounts, he will definitely buy in the amount of billions of dollars and will keep it long enough. Maybe Dogecoin can also be used as an alternative to purchasing products from Tesla.

That is possible since Elon Musk is the richest man in the world. Aside from that, he is a visionary so we can say that all of his doings have also meaning and purpose. Maybe we can't see it now but we will. He always thinks outside the box, his vision is not usual like the ordinary people.

[OgNasty]

Elon Musk also said to sell Dogecoin.  He stated that having so many coins centralized in the hands of so few is the reason why he can't support Dogecoin and that those users should sell.  Not only do I think it's unwise to buy Dogecoin now, but I think it's incredibly irresponsible for Elon Musk to be saying things like he has been, that are certainly going to cost a lot of people that don't have money to spare their savings.  I can't tell you how many clueless people I've talked to who got led by Elon into purchasing Doge at $0.08.  These people are more than likely going to lose their savings, while Elon laughs at the fun little experiment.  It's rare that I think Elon does something stupid, usually I think his trolling is hilarious, but knowing that so many people are going to lose money makes me sad. 

[Vod]

Elon Musk is a futurist.  He sees the value in crypto so he's tried to boost it.  But a ponzi scammer does not have the intelligence to guess at the reasons Elon Musk does things.

[Clement Kaliyar]

Some people believe that the richest DOGECOIN wallet belongs to Elon Musk, for the past 2 years he has been constantly purchasing there Doge, with and 10x rate last 2 months. It has accumulated 36,812,358,629.53 DOGES until now.
He is indeed a DOGE supporter and HODLER, so I believe DOGE is a safe investment.

It is a speculation that the richest wallet in Doge is held by Elon Musk, i wont be surprised if he really held that kind of coins in his wallets but the problem i see is that he was known to manipulate the market from time to time and if he invested heavily and was profiting from these rallies without any regulation he will get away from any legal implications.

Doge has been for years now my favorite coin to move coins between exchanges, wallets, so it will always have a usability in this matter.

Once the price of bitcoin started rallying i was using doge to gamble because of the low fees and the lower valuation.

[Kasabus]

Some people believe that the richest DOGECOIN wallet belongs to Elon Musk, for the past 2 years he has been constantly purchasing there Doge, with and 10x rate last 2 months. It has accumulated 36,812,358,629.53 DOGES until now.
He is indeed a DOGE supporter and HODLER, so I believe DOGE is a safe investment.

It is a speculation that the richest wallet in Doge is held by Elon Musk, i wont be surprised if he really held that kind of coins in his wallets but the problem i see is that he was known to manipulate the market from time to time and if he invested heavily and was profiting from these rallies without any regulation he will get away from any legal implications.

I think not only Elon Musk has a huge number of Doge in the wallet. We're not sure about how much he owes now, honestly.

Actually, Elon did the best thing in crypto. I don't think he is intentionally making this hype but it is just the people who are acting differently and make their own speculations. If only that he never tweeted that event, I'm not sure if we have this spike, probably not. But, we have this thing started already. Manipulation? never mind it, it is already been a part of crypto, even before Elon Musk.

[MCobian]

I'm sure Elon Musk has bought a lot of Dogecoin, so he shills Dogecoin a lot. To be able to get more profit from Dogecoin, I'm not too sure if shilling
too often will work. Because not all investors will eventually be influenced again, by what Elon Musk did. I recommend that Elon Musk should do
something even more creative to promote Dogecoin.

[kaka manteng]

I'm sure Elon Musk has another goal behind his tweet on Twitter, hopefully his goal is to raise the enthusiasm of long-standing investors on Dogecoin or he wants Dogecoin to continue to compete in the crypto market.

[bryant.coleman]

I'm sure Elon Musk has another goal behind his tweet on Twitter, hopefully his goal is to raise the enthusiasm of long-standing investors on Dogecoin or he wants Dogecoin to continue to compete in the crypto market.

A few things to remember here:

1. This tweet is almost two months old
2. Elon purchased DOGE for his toddler son, and not for himself
3. Even at current levels, DOGE doesn't rank anywhere near the top-10 cryptocurrencies, in terms of market cap
4. Tweet from Elon hasn't caused any noticeable increase in acceptance of adoption of DOGE
5. Elon is not the only one who has tweeted about DOGE. There have been others before him, such as Snoop Dogg and Gene Simmons.

[gabbie2010]

I'm sure Elon Musk has another goal behind his tweet on Twitter, hopefully his goal is to raise the enthusiasm of long-standing investors on Dogecoin or he wants Dogecoin to continue to compete in the crypto market.

A few things to remember here:

1. This tweet is almost two months old
2. Elon purchased DOGE for his toddler son, and not for himself
3. Even at current levels, DOGE doesn't rank anywhere near the top-10 cryptocurrencies, in terms of market cap
4. Tweet from Elon hasn't caused any noticeable increase in acceptance of adoption of DOGE
5. Elon is not the only one who has tweeted about DOGE. There have been others before him, such as Snoop Dogg and Gene Simmons.

I didn't see any remarkable improvement in the price of DOGE  in the aftermath of Elon Musk massive buying, although there was an instant impact in the pump price of DOGE whem he bought DOGE massively however thereafter it price dumped and had been stagnant after undergoing corrections without any volatility.from my own point of view it will take another massive buying by some whales before it price pump again else the price will continue to range for another long period of time invariably not ideal for trading and hodling.

[bryant.coleman]

I didn't see any remarkable improvement in the price of DOGE  in the aftermath of Elon Musk massive buying, although there was an instant impact in the pump price of DOGE whem he bought DOGE massively however thereafter it price dumped and had been stagnant after undergoing corrections without any volatility.from my own point of view it will take another massive buying by some whales before it price pump again else the price will continue to range for another long period of time invariably not ideal for trading and hodling.

There wasn't any massive purchase with DOGE. Elon purchased a few coins, for his son. The amount was very small, and it had no impact on the market pricing. The tweet may have created some hype for DOGE, but from what I can see it didn't lasted long. The problem is that DOGE is essentially a shitcoin and the technology is ages behind that of the other cryptocurrencies. On top of that, it's acceptability remains very low.

[justdimin]

What's the scary part is that he could do this for useless coins, for the proper ones he can't do anything, and just because he said it, some useless bad low level coin could go up. Look at doge, look at it in detail, you will see that its literally as useless as it gets, it's really nothing that worths anything, it's really a very useless one, but for some reason people got hyped about it just with a tweet.

There are so many coins that are 10 times better than doge, they have use cases, community, great development, awesome roadmap, better decentralization, investment returns and many other things, they are awesome but that dude liked doge because "lol memes" and now its higher. That's why I think we should be careful about it, we should not get hyped just because some rich dude tweeted about a coin, that's not a way to actually make any money, or you could just "hope" for someone else to make you rich.

[Rana590]

Maybe he wants to fill his own pockets with money. He has definitely entered the digital world market before, and these words are only to influence the public mind.The highest price of dogecoin was reported on February 8, 2021. So this tweet has had an impact on dogecoin, and we may see more people flock to dogecoin in the near future, which means that Elon Musk's strategies have been done correctly.

Obviously he wants to get profited in huge amount. Why he doesn't focus on others crypto currency. I think he is holding a large amount of Doge and by focusing on Doge, he is trying to increase it's price.

[Jaered]

He was into Doge then. Probably to pump Doge and dump bitcoin somewhat. And he was buying bitcoin on the low, buying the perceived dip. Now he's shilling bitcoin

[SparrowOnTheMoon]

Trust is undermined by these posts, you start to think that this person just is manipulating hamsters

[kawetsriyanto]

I think he is holding a large amount of Doge and by focusing on Doge, he is trying to increase it's price.

It may be, but not really sure about this. We don't know if he is really serious to shill Dogecoin, or he just makes a joke for Dogecoin. If he really wants to buy a crypto coin and has the intention to gain big profits from the coin, why he didn't a better coin? It should be easier if he bought BNB coin or ETH, then he tweets about them. Elon must have bigger supports and attention from crypto users, also supports from the owners of those coins. But why he didn't choose those coins, instead choosing a Dogecoin?

[chainganginc]

Dogecoin is good to get in because it is not listed on coinbase or uphold or gemini if it gets listed it will go but wat is it's use case? Who's goin to use it to buy anything?

[(o)(o)ilikeboobs(o)(o)]

Elon Musk is an interesting guy. He gave a lot of information about Dogecoin but in the end his company bought up to 1.5 billion USD for Bitcoin. If one day Tesla accepts the Doge coin, then I believe he bought the Doge. Doge was up 20% yesterday after his Tweet. Doge had risen too high in the past because of information from Elon. This will end soon as the community is so accustomed to it and they will not be as excited as before.