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Author Topic: Why Elon Interested in Dogecoin?  (Read 1651 times)
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July 24, 2021, 10:08:46 PM
 #121

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.

 Grin

if those dogecoin fanatics read what you wrote they'll probably be pissed off at you, but you're right, there's no good explanation for a billionaire guy to leave really good altcoins to go invest in a meme altcoin and still say it's memes altcoin is good altcoin, that's insane and inexplicable.

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July 24, 2021, 10:13:27 PM
 #122

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.
Yeah, since his image on the social media was really tight to meme i suppose he just bored and want some get more attention from the community and thus he choose to shill doge and beside that looks like have another intention to manipulate the market and get some profit from there, It's normal though.
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July 24, 2021, 10:13:39 PM
 #123

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.

 Grin

if those dogecoin fanatics read what you wrote they'll probably be pissed off at you, but you're right, there's no good explanation for a billionaire guy to leave really good altcoins to go invest in a meme altcoin and still say it's memes altcoin is good altcoin, that's insane and inexplicable.

Maybe in the early days of tweeting doge, he was not that serious but later on, when he found out about his influence in doge market, he started to get serious on it. Also, he mentioned in the recent B World conference that he also owns btc and eth. So he has interest also in these 2 top cryptocurrencies. Only that, he is more active in giving tweets about doge. And people are riding the hype.
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July 24, 2021, 10:37:51 PM
 #124

Elon musk is a meme maniac he can actually pump useless coin but I think his most interest lies with doge and actually he seem so far in voicing some improvement for it several times so who know maybe he want to make doge the almost gaseless smart contract

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July 24, 2021, 11:04:37 PM
 #125

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 Elon musk interest and attention has been on Doge coin before now. However, Bitcoin and Ethereum can't be compared to Doge, that is, they are better and more trustworthy. Also, no one can actually shill Bitcoin and Ethereum they way they do for most of this Altcoins, Ethereum is backed by amazing technology so is Bitcoin, and the more people finds it interesting they more they Invest and the price keeps going up.
But in the case of Doge, there is no use case within it, and thus the best possible way to make it pump is through paying attention to it, pump it and cash out. This can be seen to be quite true because a good number of all these Meme coins are just for pump and dump.
So in my little understanding, the reason for more interest in Doge is for pump and dump, since it's quite easier.
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July 25, 2021, 12:22:52 AM
 #126

Doge coin has the same consensus algorithm as that of Bitcoin but with way too much total coins in circulation. The price is way cheaper but with the same technological architecture as bitcoin. Elon Musk has a way of taking advantage of the technology where people for an unknown reason, just pass it by. He has definitely a plan with the he incorporate it when his Paypal days are still in inception.

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July 25, 2021, 12:43:42 AM
 #127

This is a big joke in this bull market, to me, it's almost meaningless if Elon doesn't take care of it and get me some extra money that I think it's free.
And maybe now more people will realize this like me, stop thinking about it, just see it as a way for us to see the madness in this market.

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July 25, 2021, 10:20:03 AM
 #128

I know there is two biggest coin in crypto space which has a name Bitcoin and ethereum after that many coin come in this crypto space.
You have to know that elon musk is a big invester he had invest abount 1.5B$ in btc its mean that he has a big interference in cryptospace so I think he also bought alot of DogeCoin .
And in his tweet he mentioned doge to bullish his price and got some passive profit

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July 25, 2021, 11:22:04 AM
 #129

Just like people in general, there is nothing wrong if Elon Musk invests in Dogecoin, only that the problem is the overreaction of his followers thus creating FOMO, and this is made worse because many stock players enter the cryptocurrency.
However, there is an interesting fact that recently happened, if you watch the video of The B World event, you will know that Elon Musk is not only investing in Dogecoin, but also in Bitcoin and Ethereum.
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July 25, 2021, 12:05:20 PM
 #130

Because it is his favorite crypto. I guess Doge is his favorite token to trade because he said on his interview that he never sold his Bitcoin. I assume Elon is holding Bitcoin and Ethereum while trade Dogecoin.

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July 25, 2021, 12:10:28 PM
 #131

If I'm not mistaken there is talk of SpaceX carrying out a mission to the moon in Q1 2022 and it is confirmed that SpaceX Receives Dogecoin to Launch Satellites to the Moon https://btcmanager.com/spacex-dogecoin-satellite-moon-q1-2022/ and another one Elon always support with his magic tweet for Dogecoin.

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July 25, 2021, 01:45:50 PM
 #132

I heard that some of his friends were crypto enthusiast and introduce dogecoin to him then Elon started to get interest in dogecoin. No doubt that he invested a lot of money in dogecoin and starting to tweet to manipulate the price.

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July 26, 2021, 01:16:44 PM
 #133

I heard that some of his friends were crypto enthusiast and introduce dogecoin to him then Elon started to get interest in dogecoin. No doubt that he invested a lot of money in dogecoin and starting to tweet to manipulate the price.
It's a very natural thing for Elon to do because he also wants to make money through cryptocurrency, about him manipulating the price of Dogecoin, it's just part of a strategy that he can do even though it's not liked by many crypto people.
leaving aside the views of people who will be judged badly, not just Elon, I think I personally would too, because this is a business, and he knows how to earn money the easy and fast way. on the other hand he has the capital and the community, of course he already holds the key to launch his action

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July 26, 2021, 03:30:08 PM
 #134

This is my own opinion and sorry if I'm wrong.
looks like the doge team and elon musk like a collaboration to be able to become controversy. where doge has a high price increase and elon musk has the advantage over tesla.
looks like this has been designed. sorry if my statement is like a fantasy
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July 26, 2021, 05:28:53 PM
 #135

I think Elon Musk would have made less profit if he had talked about another good quality project. Elon Musk's profit margins are much higher because of the Dogecoin relationship. This is why Elon Musk is talking about Dogecoin. There is no other reason.
Elon Musk's economic power and popularity can manipulate the price of Bitcoin. For no other reason than for fun when he played with DOGE. It's also true to its name, that DOGE was created just for fun.
Elon is too easy to control the cryptocurrency market. However, he can't control the smart people in the cryptocurrency world.

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July 28, 2021, 06:41:32 PM
 #136

The reason is simple. it's profitable, and it's more profitable and easier to control than Bitcoin or Ethereum. Furthermore, I can't think of any other reason.
But I'm curious as to why Elon Musk chose Dogecoin over other cryptocurrencies. Is it because there are so many members in the Dogecoin community? Only Elon Musk, I believe, could provide an answer to this topic.
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July 28, 2021, 06:55:58 PM
 #137

He likes meme? well, Dogecoin is the coin that he saw that he can easily manipulated because there's no more control on it and it got an unlimited supply.
The devs were already out and it's now going to be there until all of us stops buying and using it. Elon just sees the things that we don't with things and that's why he's successful and many hates him if it's related to crypto.

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July 31, 2021, 06:39:56 AM
 #138

He likes meme? well, Dogecoin is the coin that he saw that he can easily manipulated because there's no more control on it and it got an unlimited supply.
The devs were already out and it's now going to be there until all of us stops buying and using it. Elon just sees the things that we don't with things and that's why he's successful and many hates him if it's related to crypto.
what you say may be true but is it true, that the purpose of what @elonmusk is doing is not just for a specific purpose. if it has been done with success then he will ignore and don't want to see that again. so that many are disappointed with actions that only aim to benefit themselves, even though it may be seen from his background as an entrepreneur that is his goal, to make as much profit as possible and he will not see the next effect which ends up hating him a lot because of this behavior. because many are disappointed with what is being done not only with Dogecoin it will happen later.

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July 31, 2021, 08:00:27 AM
 #139

He likes meme? well, Dogecoin is the coin that he saw that he can easily manipulated because there's no more control on it and it got an unlimited supply.
The devs were already out and it's now going to be there until all of us stops buying and using it. Elon just sees the things that we don't with things and that's why he's successful and many hates him if it's related to crypto.
i think elon like doge coin cause he have possibiliy by manipulating market to earn as much as profit he can. when we trapped in his game and againts the markt direction we will easily loss our money. When decided invest in crypto market , elon know that he can doing alot things with this popularity and dogecoin maybe be the first test for it.



I once read in a reply to a tweet on February 24 when Magnus Carlsen asked Elon Musk why he likes Doge Coin? then he answered it with very simple words, because he likes memes and dogs, this is indeed a reasonable answer, but according to my personal assumption he likes doge coin because he can get big profits in a short time by manipulating prices.
that is the true answer why elon musk continuesly shilling doge coin, profits be main his purpose involved in this market. He saw this market have huge potency to growth more than current condition  , he exactly right when use his power to influence investors in doge.

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July 31, 2021, 08:46:32 AM
 #140

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

I once read in a reply to a tweet on February 24 when Magnus Carlsen asked Elon Musk why he likes Doge Coin? then he answered it with very simple words, because he likes memes and dogs, this is indeed a reasonable answer, but according to my personal assumption he likes doge coin because he can get big profits in a short time by manipulating prices.
I don't know what to say about the reason behind doge but it sounds genuine, so his not in it for the profits.

As, we know that Btc & ETH are the top two Crypto in the market but I am confused why Elon interested in Dogecoin?
Nobody really knows his crypto portfolio, for all we know is Elon is the money behind dogecoins gains, and why he is really interested in that coin we all don't know..

By the way Elon Musk could have invested in most of the well known coins besides doge,btc, eth and his not telling the world his true jems.

R


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