Why Elon Interested in Dogecoin?

[dezoel]

I am sure it wasn't really specific to dogecoin, it was just basically just him getting love for tweeting a "lol doge hehe" type of thing and he got so much attention and he basically loved being loved for it and kept going. Of course there was a start of all of this but he did this years ago as well, if you check his twitter you will see that his first ever doge tweet was 2019 if I am not wrong, that means he was already invested long time ago.

The only difference is that this year we had WSB buying up doge as well, and Elon tweeting about it constantly non-stop got together a bit. So long story short, it is not just Elon being interested in doge, it is a bit doge being interested in Elon, when a whole community shows so much love towards one guy then that guy gets a bit more interested in that thing as well, it is just a common sense if you put someone in power.

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[bonghip]

As, we know that Btc & ETH are the top two Crypto in the market but I am confused why Elon interested in Dogecoin?

I think it's because he bought a large amount of $Doge , and maybe $Doge is also very easy to Fomo. As you can see, just by him tweeting about Doge, Doge go to the moon, even Mars. ETH and BTC are not great options for Fomo

[junmisakiro]

I think Elon is very interested in Dogecoin because of its name, while Dogecoin itself has been abandoned by the developer so I don't think it's natural for Elon Musk to like Dogecoin for no apparent reason.

[nurilham]

I am confused why Elon interested in Dogecoin?

Do you think Elon Musk is really interested in Dogecoin? I guess he is never interested in buying Dogecoin. He just wants to troll people by making hype in Dogecoin. He is probably trying to test his power on Dogecoin, then use it to take an influence in Bitcoin. And what do we see? This really happened a few months ago. He announced his company was accepting BTC, then he refused it and even told bad things about BTC. Well, let's forget this man, he is not a good man for Bitcoin.

[Tina H]

I am also very confused about this problem. Before Musk mentioned Dogecoin, I saw that the trend of Dogecoin did not fluctuate much. Musk made the price of Dogecoin soar. This is the first time I have seen a person can influence the market for so long, but I don't like him. I think what Musk did is for personal gain, but he is really smart.

[wajik-tempe]

As, we know that Btc & ETH are the top two Crypto in the market but I am confused why Elon interested in Dogecoin?

I think he was just being bored and opened a random cryptocurrency list and the logo of the dogecoin as we know as a meme logo. And he started promote it and the price pumped hard. Other than that, the price was still cheap and he can make a lot of profits from it.

[Roy Asher]

Because Musk promoted the price of Dogecoin and attracted more investors and followers, we all believe that Bitcoin and Ethereum are the least risky and relatively stable. If Musk chooses BTC or ETH, how much money he needs to invest, but Dogecoin is cheaper and easier to operate. After all, Musk is a businessman, and his interests should come first.

[irsada]

Because Elon Musk has bought a large amount of Doge Coin when the price was around $0.003 and he used Doge which is an altcoin that has been in the market for a long time but has a low market cap. by taking advantage of his fame he can pump up doge up to $ 0.6 , maybe he has sold everything at that price and what we see now he doesn't care about doge.

[NathanielParker]

I understand that Musk chose BTC and ETH because it is not easy to control, but I don't understand why he chose Dogecoin among the many altcoins. I think there must be a team behind Musk to help him. Musk has just entered the market, but he can have such a big impact on the market. His strength is very strong.

[LordMiguel]

they made him a member of the board. As you may noticed, humans love dominating anything they can control. Elon found dogecoin intresting just because it is very cheap and he don't want to loose money. he invested into it and he made huge money. i don't think there is anything special about Degocoin that attracts elon just that the project was build on meme values.

[mrongos]

Elon Musk is interested in Dogecoin because I think he sees the price is still cheap and has blockchain technology which is almost the same as Bitcoin so I think he used Dogecoin to buy it in very large quantities and tried to make a profit by using his followers to buy Dogecoin.

[MusaMohamed]

Elon Musk is interested in Dogecoin because I think he sees the price is still cheap and has blockchain technology which is almost the same as Bitcoin so I think he used Dogecoin to buy it in very large quantities and tried to make a profit by using his followers to buy Dogecoin.

He is an ironic guy and want to find a cryptocurrency that matches his characteristics. Dogecoin was created as a joke Aand he is interested in because of this reason.

You are correct that cheap price is another reason to make Dogecoin is attractive to Elon.

Last but not least, Dogecoin has no big influential people and Elon knows that he can become the first and even biggest influential person in Dogecoin community.

[Xampeuu]

Elon Musk is interested in Dogecoin because I think he sees the price is still cheap and has blockchain technology which is almost the same as Bitcoin so I think he used Dogecoin to buy it in very large quantities and tried to make a profit by using his followers to buy Dogecoin.

right, at that time doge had a low price and the transfer fee was cheap too. so that by buying at a low price, you will get most of the doge supply. and coupled with influencing his followers, it will launch the doge's goal of seeking personal gain. and of course many novice investors were disappointed at that time

[Deepak33725]

Because he has holded almost over 20 percent supply of dege with very much cheap price and that's why he pump the coin  and so much interested to carry at maximum price.

[Maslate]

Elon Musk is interested in Dogecoin because I think he sees the price is still cheap and has blockchain technology which is almost the same as Bitcoin so I think he used Dogecoin to buy it in very large quantities and tried to make a profit by using his followers to buy Dogecoin.

right, at that time doge had a low price and the transfer fee was cheap too. so that by buying at a low price, you will get most of the doge supply. and coupled with influencing his followers, it will launch the doge's goal of seeking personal gain. and of course many novice investors were disappointed at that time

They say that the supply of DOGE is infinite, and that is one of the most important factors some investors had missed, they think the price is good now but actually, it's already overvalued. With Elon's manipulation to the market, soon, he will become the enemy of the public and investors will not anymore listen to him, we learn from John McAfee story which was also a big shill during the 2017 bull run, and now, his reputation was already ruined int he crypto space.

[jostorres]

at that time doge had a low price and the transfer fee was cheap too. so that by buying at a low price, you will get most of the doge supply. and coupled with influencing his followers, it will launch the doge's goal of seeking personal gain. and of course many novice investors were disappointed at that time

They say that the supply of DOGE is infinite, and that is one of the most important factors some investors had missed, they think the price is good now but actually, it's already overvalued. With Elon's manipulation to the market, soon, he will become the enemy of the public and investors will not anymore listen to him, we learn from John McAfee story which was also a big shill during the 2017 bull run, and now, his reputation was already ruined int he crypto space.

Unfortunately even something that has unlimited supply could go super high with enough hype, and I still do not think that is the reason why it should not be this high. Look at ETH, it has unlimited supply as well but I really do not care about that part of it, why? Because it is so much wanted and so much used that I believe it could be twice as much ETH as it is right now in a year and we could still keep the price going at these rates, only reason for it is the fact that people have a reason to buy it, because they can spend it somewhere (specially for gas fee).

On contrary to that we have doge that is not used anywhere at all, no reason to be bought, only reason it is higher right now compared to last year is the fact that some wealthy guy joked about it on twitter and now we are basically just facing a huge overvaluation of it.

[shinratensei_]

but I don't understand why he chose Dogecoin among the many altcoins. I think there must be a team behind Musk to help him. Musk has just entered the market, but he can have such a big impact on the market. His strength is very strong.

Doge was so easy to control and it can be manipulated easily at the time when doge coin gets pumped so hard. That being said if doge coin less decentralized compared with bitcoin and ethereum.
Doge coin was very cheap last year compared with this year. that's why he may silently investing in the doge coin as well.

[velosepur]

Money and profit are main reasons for everything as usual but as people mention one of main reasons is ego. He feels important and better than others in crypto when prove self he can make big impact with tweet and few words.

Yes, and another one is power through the assets he already owns so he can say anything through his Tweets to influence everyone who has followed him through his personal Twitter, so don't trust other people's words even if it's from the richest person in the world.

Agree, true. Best way is to  ignore his writings. If people stop to follow his words and react on it this euphoria and his impact on crypto and coins will stop. But we will see what will happen. People are not reasonable often so...

[retreat]

As, we know that Btc & ETH are the top two Crypto in the market but I am confused why Elon interested in Dogecoin?

he wants to pump up the price of dogecoin because surely he has it, there's no way he's just kidding with dogecoin because it's obvious that he's trying to manipulate the price of dogecoin.

Elon is the most reliable dogecoin mockup.

[deh222]

As, we know that Btc & ETH are the top two Crypto in the market but I am confused why Elon interested in Dogecoin?

he wants to pump up the price of dogecoin because surely he has it, there's no way he's just kidding with dogecoin because it's obvious that he's trying to manipulate the price of dogecoin.

Elon is the most reliable dogecoin mockup.

Of course this is price manipulation. Bitcoin is already responding to Elon's mentions! And the price of any altcoin is guaranteed to change significantly. If you have a lot of money and an army of followers, this is the easiest way to earn many millions of dollars))