What is Elon Musk's goal with Dogecoin?

[Gayong88]

It looks like Elon will continue to pump up Doge Like his post in the Twitter post https://twitter.com/elonmusk/status/1396916392629137409it is certain that the Q1 2022 plan for the Moon's SpaceX DOGE-1 mission will be carried out and hopefully, things will come true.

[1714170208]

1714170208

[1714170208]

1714170208

[1714170208]

1714170208

[cabron]

My opinion is that by using Dogecoin, Elon Musk provokes everyone or shows that he can control the market, I believe He is the richest and can afford whatever he wants and it is very difficult to know what is behind his cryto action. I believe that elon's goal is to dominate the market

Yes, it does seem that he is capable of dominating the Crypto market at this point in time, but it will not last long for him, because sooner or later everyone who believes in him today will realize that he is only thinking about profit for himself regardless of his followers.

Probably to divert small investors to doge while he gets more BTC. If I have to do it like Musk would, I would have bought dogecoin from the beginning like $0.00001 with just worth $10K and then play around this time by rating the price and then use his influence to hype doge and add it to ATMs so the price starts going up. But this is probably to derail small investors to buy Doge than BTC.

[nhaila]

Isn't it obvious he only wants attention? And millions of people are falling for it!
Don't think one of the richest guys on the planet does anything in your interest. Some people will earn from it, many people will lose money because of it. And Musk will still be rich.

He tried trolling with Tesla stock on Twitter, got a 10 million dollar fine, and can now troll all he wants with crypto. Even his kid's name is trolling.

I can't grasp how he even cares about trolling online, when he can basically do anything he wants. That must mean he really wants to troll

Elon musk a the richest person in the world but his announcement is the poorest because a few days ago he neglected bitcoin but support dogecoin as his investment plafrorm. Actually what's he be aspected from dogecoin?

[Godwinpaul]

It's possible that Elon musk wants to make more money from the market, but I doubt. I feel he's only trying to entertain himself and he has a personal affection for dogecoin and wants to support the coin. It could be that due to the fact that the meme coin has been related, he was to bring it to limelight.

[PaulyC]

Always remember. Musk started as an Online Banker..
Now he's everyone's Fame Mom.. how far he's come.  

[Sithara007]

It's possible that Elon musk wants to make more money from the market, but I doubt. I feel he's only trying to entertain himself and he has a personal affection for dogecoin and wants to support the coin. It could be that due to the fact that the meme coin has been related, he was to bring it to limelight.

His real intention is not yet clear. He doesn't own any cryptocurrency directly, so we can't claim that he is benefitting (at least personally) from the movements in the market. But at the same time, I have my own doubts. If you carefully look at his tweets, a clear pattern can be observed. The manipulation he did was well planned and made use of his millions of social media followers. Now looking back after a month, it is difficult to believe that Elon is innocent and he just wanted to promote some shitcoin for fun.

[EmmaGod]

Elon musk is a wealthy, but it would be out of place to think that he has nothing to benefit from the tweets and influence he's building on the cryptocurrency industry. I believe that he has ultimate aim which may not be directly related to money, but can indirectly make more money. I know billionaires are not time wasters, they invest their time and efforts to get what they want.

[baller1]

It's possible that Elon musk wants to make more money from the market, but I doubt. I feel he's only trying to entertain himself and he has a personal affection for dogecoin and wants to support the coin. It could be that due to the fact that the meme coin has been related, he was to bring it to limelight.

His real intention is not yet clear. He doesn't own any cryptocurrency directly, so we can't claim that he is benefitting (at least personally) from the movements in the market. But at the same time, I have my own doubts. If you carefully look at his tweets, a clear pattern can be observed. The manipulation he did was well planned and made use of his millions of social media followers. Now looking back after a month, it is difficult to believe that Elon is innocent and he just wanted to promote some shitcoin for fun.

I don't disagree with you.. as his hodlings could easily be verified by Elon.. if he wanted them to be...
But just to clarify what he's written (again what's true could be diff.)

He said, “I have not sold any of my bitcoin,” Apr. 26th when being accused of starting a P&D. which looks to be the case.

He stated Tesla was holding BTC long.. and he himself hadn't sold any of "his" BTC. (could be easily verified.. but Elon's like nahhh)
“We do believe long term in the value of Bitcoin,” he said. “So it is our intent to hold what we have long term and continue to accumulate bitcoin from transactions from our customers as they purchase vehicles.”

A month later.... after he pumps it..

"Tesla has suspended BTC purchases.. not selling BTC gonna use it for future tx when BTC 'forks'" (Not really about the 'forks' but basically what he's saying whether he knows it or not)"
Again the "unsold BTC holdings" could be verified.. but Elon's like nahhh

Then..

"Yeah, I haven’t and won’t sell any Doge." In response to "his" Doge hodlings. But notice he didn't say "any of my Doge"..

Just following this pattern alone, he could easily tweet out he's no longer supporting Doge. Not that he would but he clearly has no allegiance to anything but profits.

Either way he's blatantly playing the unregulated market.. He's most likely playing the pumps and dumps like KimDotCom used to do.
and they've been falling for it every time.

[KaliLinux]

Do you think he does it because he wants to make money? Do you think he speculates with Dogecoin?

I am wondering if he will keep tweeting about it after the bull market is over.

Someone could also ask what was his goal when he first tweeted about Bitcoin? EM is all about profit-making and he has done that with Bitcoin and he is still doing it with Dogecoin. Think about it, with the price of Dogecoin, Elon Musk could easily make Billions from Hyping Dogecoin than Bitcoin. I think it's all hype that will die off later.

[livingfree]

Someone could also ask what was his goal when he first tweeted about Bitcoin? EM is all about profit-making and he has done that with Bitcoin and he is still doing it with Dogecoin. Think about it, with the price of Dogecoin, Elon Musk could easily make Billions from Hyping Dogecoin than Bitcoin.

He's all in for taking profit. It is no longer normal to have more time in twitter rather than putting more time in his businesses although that's the power of being an established businessman, you can have people that shall work for your tasks.

I think it's all hype that will die off later.

There's no doubt about the hype and that's for sure that this hype will later on be gone on Dogecoin. And just as this correction has occurred, we can see that the hype went down.

[bison]

My opinion is that by using Dogecoin, Elon Musk provokes everyone or shows that he can control the market, I believe He is the richest and can afford whatever he wants and it is very difficult to know what is behind his cryto action. I believe that elon's goal is to dominate the market

Yes, it does seem that he is capable of dominating the Crypto market at this point in time, but it will not last long for him, because sooner or later everyone who believes in him today will realize that he is only thinking about profit for himself regardless of his followers.

Elon is a businessman and definitely what he is doing right now is to multiply the profits he has by dominating the market, he is really using his influence to get what he wants, and I agree that this situation won't last long because people will conscious and saturated because they were only being played with by him, then they will come back to trusting the research they have made more than just following an Elon.

[aditasetia123]

My opinion is that by using Dogecoin, Elon Musk provokes everyone or shows that he can control the market, I believe He is the richest and can afford whatever he wants and it is very difficult to know what is behind his cryto action. I believe that elon's goal is to dominate the market

the certain thing only money, with his  tweet elon want his assets in crypto market rise alot . with hype that he created , trader believe he choose the right asset when elon do this too. but longer , people will realize if they continuely follwing elon , they will trapped in elon's goal that is controlling market.

[Almasani]

Do you think he does it because he wants to make money? Do you think he speculates with Dogecoin?

I am wondering if he will keep tweeting about it after the bull market is over.

I think Elon Musk has a lot to do every day. Crypto is not his main focus. It's just that he is here for crypto because his company will use crypto as a means of payment. Crypto conditions continue to deteriorate at the moment. TheMoonCarl said that Bitcoin will Bullrun 400% in the next month. If so, then the alt will accompany it.

[bison]

My opinion is that by using Dogecoin, Elon Musk provokes everyone or shows that he can control the market, I believe He is the richest and can afford whatever he wants and it is very difficult to know what is behind his cryto action. I believe that elon's goal is to dominate the market

Maybe now he has been able to dominate the market and manipulate it, but will this last long? not. Sooner or later people will realize that this is just Elon's strategy to maximize profits for himself.

[mulia sabee]

Like Elon Musk's previous reason, he is only successful with this coin meme according to him. and another reason he bought the coins as a collection for his son. But if you look at the price that continues to skyrocket higher, it is possible that Elon Musk has done a great business trading Dogecoin.

[laohe628]

Obviously Elon Musk wants to profit from Dogecoin, no doubt about it.I guess he bought Dogecoin, and he bought a lot of it, which is why he was happy to do the publicity for Dogecoin.
After the end of the bull market, his holdings of Dogecoin should also be all have selled, he will not tweet any of the Doge thing again.

[VanDeinsberg12]

Like Elon Musk's previous reason, he is only successful with this coin meme according to him. and another reason he bought the coins as a collection for his son. But if you look at the price that continues to skyrocket higher, it is possible that Elon Musk has done a great business trading Dogecoin.

he certainly bought it maybe at early phase, buying it because he collects it for his son is such a LAME excuse, no billionaire gonna go that far to shill it if not for their own benefit, they become a billionaire for a reason after all

but right now it seems the doge market has been out of ELON control although most demand comes from ELON's shill about it being the future leading coin or or how great it is but people seem have gotten tired of elon
and instead the market moves on its own course, hope things stay like this though, market manipulation like that isn't healthy even if it pumps the market, it could cause bigger crash.

[jambul_kribo]

money be special goal why elon musk continuesly shilling doge coin , there is no reason at this moment. i am sure elon musk have doge coin although he didnt directly buy use his name , but he could use their colleague data. cryptocurrency volatility was looks very sexy for every whales , and the fastest way to earn money only fud or shilling that will drive price hardly.

[Tervelatuk]

money be special goal why elon musk continuesly shilling doge coin , there is no reason at this moment. i am sure elon musk have doge coin although he didnt directly buy use his name , but he could use their colleague data. cryptocurrency volatility was looks very sexy for every whales , and the fastest way to earn money only fud or shilling that will drive price hardly.

make market drop or rise hardly will give good opportunity enter, but without trading skill we could lose our money easily. And this is what actually want by whales in crypto market. they manipulate market with several ways even use popular person to shill or make fud. Dogecoin could be an example how whales work.

[southerngentuk]

money be special goal why elon musk continuesly shilling doge coin , there is no reason at this moment. i am sure elon musk have doge coin although he didnt directly buy use his name , but he could use their colleague data. cryptocurrency volatility was looks very sexy for every whales , and the fastest way to earn money only fud or shilling that will drive price hardly.

They're playing with the tools of our lives, I've never seen money so taken lightly by the billionaire class.
Maybe Elon has created an over-trend about what he says, but I see here the problem that Elon only cares so much for Doge coin, but when he pays more attention to other coins has a good ecosystem foundation in the market, everything will change, I believe it is not over yet.