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
