Dogecoin Elon Musk theory

[Spaffin]

Doge is a coin with infinite supply, it is certain that Elon musk will not pour billions of dollars into such a coin.
I think the Elon musk is just trying to increase Doge's price until he decides to sell it.

I don't get this argument, who cares about that honestly, Bitcoin will have a finite supply in 2140, who will still be alive in the middle of the 22th century? Nobody, so Bitcoin has also virtually a infinite supply because no one on earth will be alive to see the end of its mining production.

The problem with bitcoin is that people need to put in a lot of effort and money to get it, and it becomes more difficult to mine bitcoin later.
However Doge is different, increasing Doge's supply is quite easy

I believe that we are looking for a problem where there is none. and we also want to find some patterns or riddles in the actions of Elon Musk, but in fact we made sure that he simultaneously invests his funds in both Bitcoin and Doge Coin, Although Doge was bought for a small amount for him, as a gift for his son, which cannot be said about investments in bitcoin, which are of a more serious nature.

[coin-investor]

After buying, he may well combine Dogecoin with his other business activities. Maybe a strange theory: that's why I'm also curious how you think about this.

We need to hear it coming from the horse's mouth why on all coins he prefers Dogecoin, what's behind it, what's the motives and is this healthy in the ecosystem of Cryptocurrency, honestly, nobody saw this coming with no announcement at all he just picked DogeCoin and continue to tweet, there's a possibility that some coins are also on his radar, I hope I'll get a hint on what it is.

[iTradeChips]

What I really think is that maybe Elon Musk is using his influence to make big gains out of cryptocurrency. When he made those tweets about Dogecoin before, the hype started and many of the old timers in DOGE have made lots of fortunes. I am not sure though if there were overnight millionaires because of that but I am pretty sure there were. Now that we are seeing DOGE price becoming stable and low then many of the newcomes who were FOMO'd by the hype will start raking in DOGE, hoping for the next Elon tweet.

[cryptotalkman]

Thanks for all the responses. I always try to think outside the box. Why I think Elon chose Dogecoin? I don't think he just randomly picked Dogecoin. I think Elon had a survey conducted by several specialists. Like a psychologist and economist. I think psychology plays a big role in the general public for long-term success. Many people have a dog. Every time someone talks about a dog, you subconsciously think about the dogecoin. Time will tell.

[bandungan]

Elon musk is more carefully right now because his tweet about Dogecoin is under investigated by SEC. Since every Elon musk tweet about Dogecoin it will manipulate Dogecoin price.

Right now he's tweeting about NFT, that's why NFT token price pumping and interested with many people.

sometimes big influencers have to be careful when doing anything on social media. but there is a positive side for these coin holders, now I think we can try to take a lot of profit from Dogecoin. Nowadays Dogecoin has a high price tag and so is the NFT, so it's one of those things that can quickly and easily happen just because of a tweet.

[mindrust]

Years ago, when Tesla Model 3 was making its debut, he collected 325.000 pre orders for it in 1 week. (source) If I remember right, the price was like $1000. So he raised like 325 million dollars in 1 week. People already trusted him that much.

Didn't he then live in the Factory to ensure the cars were produced in rapid time to fulfill the orders or face hefty (unrealistic) penalties - it was almost being run as a (Ypouknowwhatzi) just to cover the outlays and promotions without any profit (other than the share price surging on the stock exchange).

Yeah I remember something like that. I also remember that he couldn't manufacture enough Model 3's to counter the pre-order demand. I might be wrong here but he couldn't deliver it the next year neither.

When the demand and supply actually met each other, people already changed their minds and decided that they don't want a tesla anymore.

I don't want to label Elon as a ponzi lover but he certainly smells like one.

[Golftech]

Elon musk is more carefully right now because his tweet about Dogecoin is under investigated by SEC. Since every Elon musk tweet about Dogecoin it will manipulate Dogecoin price.

Right now he's tweeting about NFT, that's why NFT token price pumping and interested with many people.

sometimes big influencers have to be careful when doing anything on social media. but there is a positive side for these coin holders, now I think we can try to take a lot of profit from Dogecoin. Nowadays Dogecoin has a high price tag and so is the NFT, so it's one of those things that can quickly and easily happen just because of a tweet.

He can just do whatever he like and if SEC will follow all those tweets then they might find it difficult to

prove that Musk have all those coins that he tweeted, though it's really possible to earn following those

hypes, you just needed to make sure that you are also willing to risk in case that the timing is not favorable

at your side.

[sunny28]

Thanks for all the responses. I always try to think outside the box. Why I think Elon chose Dogecoin? I don't think he just randomly picked Dogecoin. I think Elon had a survey conducted by several specialists. Like a psychologist and economist. I think psychology plays a big role in the general public for long-term success. Many people have a dog. Every time someone talks about a dog, you subconsciously think about the dogecoin. Time will tell.

Guess and the idea is cool, really, but I think a little differently!

The DOGE coin was created for fun, the creator did not hope for its such success, when Elon Musk began to get acquainted with the cryptocurrency market, he decided to also promote the "joke" coin, I think so!

[J1mb0]

Doge is a coin with infinite supply, it is certain that Elon musk will not pour billions of dollars into such a coin.
I think the Elon musk is just trying to increase Doge's price until he decides to sell it.

I don't get this argument, who cares about that honestly, Bitcoin will have a finite supply in 2140, who will still be alive in the middle of the 22th century? Nobody, so Bitcoin has also virtually a infinite supply because no one on earth will be alive to see the end of its mining production.

The problem with bitcoin is that people need to put in a lot of effort and money to get it, and it becomes more difficult to mine bitcoin later.
However Doge is different, increasing Doge's supply is quite easy

I believe that we are looking for a problem where there is none. and we also want to find some patterns or riddles in the actions of Elon Musk, but in fact we made sure that he simultaneously invests his funds in both Bitcoin and Doge Coin, Although Doge was bought for a small amount for him, as a gift for his son, which cannot be said about investments in bitcoin, which are of a more serious nature.

There is a very important rule in the cryptocurrency market that never invest on the advice of others.
Doge coin's price at the moment is due to Elon musk hype, it wouldn't be wise to invest in doge at this point.

[Oshan-T]

I think he was just playing around with his tweets. And he will never in his right mind will put 40bn into doge coin.

[eaLiTy]

The DOGE coin was created for fun, the creator did not hope for its such success, when Elon Musk began to get acquainted with the cryptocurrency market, he decided to also promote the "joke" coin, I think so!

The coin was created as a meme but it started gaining momentum when they sponsored a rally car tournament and everyone supported them by donating the coins and no one expected it to rally to astronomical high valuations and Elon Musk is trolling the entire market by supporting Doge and he was doing that for a few years and he was able to move the market whenever he tweets.

If the developers update everything in time then it will be great.

[DaMut]

I think he was just playing around with his tweets. And he will never in his right mind will put 40bn into doge coin.

of course, no need to overthink that because it is very obvious. do you think any businessman out there will integrate something that is purely based on hype or season as their business model? there is no way they will do that. the main point of his tweet is all about his approach or his way telling people that he is slowly accepting cryptocurrency.
since advertising bitcoin openly will create critique, might as well just joking around with memecoin but getting traffic from it.

[Shasha80]

Only Elon Musk knows the real reason why he often makes tweets about Dogecoin, according to many members here Elon Musk is just trolling.
Because he thinks of Dogecoin as his playground and maybe it gives him pleasure. But in my opinion Elon Musk made tweets related to Dogecoin
who wanted to make the Dogecoin price pump. Because my guess is Elon Musk has already bought a lot of Dogecoin, that's why he wants to make
a profit from Dogecoin. By promoting Dogecoin on twitter platforms.

[LUCKMCFLY]

Only Elon Musk knows the real reason why he often makes tweets about Dogecoin, according to many members here Elon Musk is just trolling.
Because he thinks of Dogecoin as his playground and maybe it gives him pleasure. But in my opinion Elon Musk made tweets related to Dogecoin
who wanted to make the Dogecoin price pump. Because my guess is Elon Musk has already bought a lot of Dogecoin, that's why he wants to make
a profit from Dogecoin. By promoting Dogecoin on twitter platforms.

For now Elon Musk has had some measure with respect to tweets, in the crypto world many are waiting for a twitter from him to buy, he is an influencer with a lot of power, he moves masses and that currently makes the market produce many emotions, Such emotions are what move the market.

In Jesse Livermore's book called "Memoirs of a Market Speculator" he talks about emotions and Elon Musk is undoubtedly one of the causes that make a "Positive Fundamental" both for Bitcoin and for any cryptocurrency, it is like in the book when he explains that he bought many shares and waited only for positive news for everyone to start buying that share, and the Strong Hands of that share was him, only that sale made him a millionaire, similarly today with the bitcoin and cryptocurrency market .

[lixer]

There is a very very very simple reason why he can't and won't do this : there is about 40% of all doge coin owned by certain group of people. So, if he pumped 40 billion dollars into dogecoin whic he won't because even for bitcoin they did a 1.5 billion one and not more, that would mean he would be buying dogecoin from those who have a lot and they will have enough money to keep dogecoin where it is, in fact they have enough dogecoin to drop the price of dogecoin under this current price even after elon musk spends 40 billion dollars on it. So long story short it would be the worst financial decision anyone has ever made in the history of the world.

I get that some people are hopeful about it, I get that some people want this to happen so that they could make some money. But the reality is that dude is just a meme guy who has fun and that's about it.

[deathcode]

There is a very very very simple reason why he can't and won't do this : there is about 40% of all doge coin owned by certain group of people. So, if he pumped 40 billion dollars into dogecoin whic he won't because even for bitcoin they did a 1.5 billion one and not more, that would mean he would be buying dogecoin from those who have a lot and they will have enough money to keep dogecoin where it is, in fact they have enough dogecoin to drop the price of dogecoin under this current price even after elon musk spends 40 billion dollars on it. So long story short it would be the worst financial decision anyone has ever made in the history of the world.

I get that some people are hopeful about it, I get that some people want this to happen so that they could make some money. But the reality is that dude is just a meme guy who has fun and that's about it.

I like your last statement. and indeed what is happening right now is that. should everyone be able to find out how Elon was playing and joking with Dogecoin?
with many followers, he could easily fool his followers. create hype in the market and afterward, he will laugh at what his followers are doing.

[dimonstration]

I get that some people are hopeful about it, I get that some people want this to happen so that they could make some money. But the reality is that dude is just a meme guy who has fun and that's about it.

It was only this time when Elon creates hype many follows without understanding what the coin idea really is, some thinks that it is like bitcoin with real purposes since they didn't research on it, it's good to follow hype but in only limited time just to gain atleast a profit but not to the point to put Al investment and hold it long.

[dhemasm]

Why would Elon Musk tweet so much about Dogecoin? It seems that everything he touches turns to gold

Elon Musk is a meme lord, you can see the various eccentrics he did before. Anime, Joking SpaceX Failure, etc and Dogecoin are the right altcoins for Elon musk to enter the world of crypto, according to my theory that is just one strategy from Elon to introduce crypto to the world and of course he has previously invested or held several cryptos and after being famous of course will attract more attention, So it's another profit for Elon musk. It is also possible that Elon will implement various cryptos into its business structure as we see today where you can buy Tesla with bitcoin.

[Mpamaegbu]

Suppose if Elon Musk were to pump 40 billion into the Dogecoin, Dogecoin would be the 3rd largest altcoin in the world with a market capitalization of 46 billion. And then he was proved right again. And well done again. I wouldn't be surprised he does this. And maybe he wants to reward everyone who buys Dogecoins for following up on his tweets?

Rich people don't throw cash around just for the sake of it. There must be something in it to catch their fancy before they engage their wealth in it. Dogecoin may be a fun token from its creation but it certainly has a fantastic low transaction fee and the speed of light for confirmation of transactions. A few times I used Dogecoin proved to me that it's a great token. It's just its infinite supply that is the problem holding it down for price valuation. Surplus supply, we are taught, causes something to lose value.

Right now he's tweeting about NFT, that's why NFT token price pumping and interested with many people.

Oh yeah. Really? This will be interesting then.

[Bitcoinislife09]

Hi everybody,

I don't have a lot of experience with crypto: but I am curious how you think about this theory: Elon Musk regularly tweets about Dogecoin. Elon Musk has a net worth of 172 billion I see in Google. I think that's a little less now, but still a lot .

I see that Dogecoin is in 17th place with a market cap of 6.2 billion.

Why would Elon Musk tweet so much about Dogecoin? It seems that everything he touches turns to gold. If he bites into something, it will be a success: left or right.

Suppose if Elon Musk were to pump 40 billion into the Dogecoin, Dogecoin would be the 3rd largest altcoin in the world with a market capitalization of 46 billion. And then he was proved right again. And well done again. I wouldn't be surprised he does this. And maybe he wants to reward everyone who buys Dogecoins for following up on his tweets?

After buying, he may well combine Dogecoin with his other business activities. Maybe a strange theory: that's why I'm also curious how you think about this.

Not gonna happened I'm thinking is a DOGE coin investor because he's hyping the DOGE coin with his tweets and it would make sense if he did that. But as an investor, he wouldn't actually be going to do this because he wants to adapt the DOGE coin right or wanted to use DOGE as a utility in his business. Every company will probably just go for bitcoin at this point because it is the top cryptocurrency and investing in bitcoin is the best investment the company could do. For sure Elon has a plan with this DOGE coin pump I mean it is a pump and dumps scheme for sure so I wouldn't invest because whales could easily dump on you.