Why Elon Interested in Dogecoin?

[CaVO32]

but I am confused why Elon interested in Dogecoin?

This is a personal question which only Elon Musk is the only person that can provide an honest answer it but it started when Dogecoin is having problem. Elon said he's working with dogecoin developers to improve the project efficiency of transactions and he later claim to be coin new CEO. I guess he invested some fortune when the developer improve the coin

We can't point out why but for a common understanding it possible because he easily manipulates Dogecoin compared to others or he might be a part of this project a long time ago. But the question is if the people have an interest in Doge? Those who follow and trust Elon might say that they are also investing in Doge but I could say to them that they need to be cautious and need to understand what project they are with. And I would also say that don't put all their money on Doge, coz I'm afraid if Elon is just playing and fooled them.

I have the feeling that maybe at first, he was only playing with his tweets towards doge. But later on, he seriously invested on it especially when bitcoin market reached new ATHs. Because previously, he didn't even own bitcoin, just the one that his friend that was sent to him. But when he saw that crypto market is gaining interest especially last year, he started to become serious in looking at crypto market. And now, it seems he is seriously working with doge team. Doge is an old alt, so maybe he wants to prove also that even if this is just a meme coin, it can be develop into something great if he will get onboard on this project.

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[1715200932]

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[bayu7adi]

All of the answers are unbelievable, not even Elon Musk's. The answer to why Elon chose doge is based on the assumptions of each individual. We can give opinions, but the common sense of others still has priority in each individual.
Hoping that the real truth will soon be revealed is a scenario that violates Elon's drama.
Whether BTC or DOGE, Elon chooses coins that are easy to profit and also according to their capacity.

[iTradeChips]

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

It's caused by he was an agenda for doge coin. Remember that elon was mentioning on his tweet if he needs a crypto that can be used in mars and doge coin is including on his project.
he was also buying lots of doge coins and you must see that there are some addresses that owned more than 50% of total supply.
Elon will not buy something if that will not be really useful for him. The communities have been talking about this since at the end of last year.

Well Elon called for developers to try and upgrade Dogecoin. I think he is serious in making the memecoin a top tier coin and possibly adopting the coin and make it his own. I think he has profited much from the sale of DOGE, not sure how much but we know very well he profited. DOGE is a bit expensive now for being a meme token, and anyone who invests now might need to wait from time to tine, to see if the coin has increased price.

[finaleshot2016]

He became interested in Dogecoin because it was only a meme coin at the time, and no one cared about it. He pays attention to it since it's one of those cryptocurrencies that can expand really quickly simply by shilling, as it's only a memecoin at first.

That's how smart people think; he won't pay attention to any other cryptocurrencies because they can jeopardize his existing position, and right now, everyone is joining the frenzy because of Elon Musk and the fact that it's a memecoin.

[NewRanger]

Primary reason would be to gain more popularity and influence the market. Just check the ranking of dogecoin on CMC, through his influence he has changed the marketcap of that coin. I am sure he also holds a considerable amount of the meme coin and is indeed looking for a considerable amount of profit from it.

its more rational reason why elon musk shilling doge coin. he want to test cryptocurrency market , is it really decentralized from any figure or not. Doge coin that called as shitcoin and have very huge supply are tested for his experiment. when see the result of doge coin price after shilled now elon musk confidence to shake bitcoin with his statement, it will not stop and in future we must carefull with his tweet about cryptocurrency.

[AwoCorporation]

From what I see, Elon is trying to experiment with small coins where the coin is considered a shitcoin, and whether Elon is able to manipulate the market according to what he wants, and it turns out that he was able to shake up the crypto market with the pump that happened to DOGE, then he is now starting to experiment with Bitcoin, if many people are still consumed by what Elon has said, the crypto market will definitely be volatile again.

[BobK71]

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

He is meems lover. That's why he like Doge coin. He also tweeted several new memes coin along with Dogecoin like SHIB Coin and Baby Doge Coin.

[sarmrakib]

Of course doge coin is one of the old coins and has high potential so that the response from investors is faster compared to other coins, if bitcoin and ethreum have become a mainstay of all of us so that without Elon Musk the coin can also increase if the market demand increases, perhaps this is why Elon Musk chose doge coin.

I think its not make sense the real thing that's why Elon is investing here .Is he really bought DogeCoin .I didn't see any huge transaction he made .I think je is just spreading the hype and FUD which make the Doge price being high volatile .He is one of the richest person in the world he can invest anywhere but we need to judge the real thing before invest our valuable capital.

[Little Mouse]

Many have said because he has invested in dogecoin and that's true as he admitted in a twitter but he was shilling for Doge before he invested in Doge even. I think he was making fun as Doge was created out of fun, a meme token. Nothing else was the purpose.

[imstillthebest]

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

He is meems lover. That's why he like Doge coin. He also tweeted several new memes coin along with Dogecoin like SHIB Coin and Baby Doge Coin.

for real ? or maybe he pick doge because doge is a cheap yet popular coin and easy to manipulate ?
 and he only uses the alibi that he loves meme coins but before doge he first pick btc and btc was not a meme coin but this could be for his tesla business .
elon is a rich guy and even if he dont pick doge and pick eth and btc instead ,
he can still manipulate this market .

[Gozie51]

quote author=wack slacker link=topic=5336483.msg56984159#msg56984159 date=1620704631]
Elon Musk is an individual investor and he certainly bought a lot of Dogecoins. That's the reason he tweeted about it. His work easily gives DOGE a value boost and is more profitable than he tweeted about Bitcoin or ETH.
[/quote]

It is obvious that where your money is , that is where your treasure is. Yes he bought a lot of doge coin and he has been tweeting positive for the coin. After the SNL has gone, he kept supporting with more tweet by even having a negative tweet about bitcoin that dropped the price. At the inception of the bitcoin drop, many thought that dogecoin will disappear but it has moved with the bitcoin and other altcoins like ethereum.

[mamahdedeh]

memecoin like doge from the start has been at the top of coinmarketcap. at that time the price was still relatively cheap, but had a large community, so I think Ellon chose doge because it would be easier to manipulate it, and finally the cryptocurrency world was shocked by the news of doge, and not a few new investors fell prey to it.

[Dr.Osh]

Many have said because he has invested in dogecoin and that's true as he admitted in a twitter but he was shilling for Doge before he invested in Doge even. I think he was making fun as Doge was created out of fun, a meme token. Nothing else was the purpose.

well, Elon Musk might see something in Dogecoin. To be honest, I see Dogecoin only as a coin used for gambling. I used to have several doge before I sold them. perhaps, Elon Musk has his own goals regarding Doge. well, even I've seen his tweet about whether he will accept doge at tesla or not. well, I hope to soon see Elon Musk's goal of cultivating Doge.

[Expecto]

He has invested into Dogecoin a lot. And he mentioned many times in his tweets. But I don't exactly know the main reason he is interested in it. Because Dogecoin was nothing more than a meme coin before. Now, things have completely changed.

[Fredomago]

Many have said because he has invested in dogecoin and that's true as he admitted in a twitter but he was shilling for Doge before he invested in Doge even. I think he was making fun as Doge was created out of fun, a meme token. Nothing else was the purpose.

well, Elon Musk might see something in Dogecoin. To be honest, I see Dogecoin only as a coin used for gambling. I used to have several doge before I sold them. perhaps, Elon Musk has his own goals regarding Doge. well, even I've seen his tweet about whether he will accept doge at tesla or not. well, I hope to soon see Elon Musk's goal of cultivating Doge.

He had his own reason why he choose this coin instead of those other available project, Or maybe he just created he's statement inside this industry by showing how huge he can move an asset.

Whatever reason there is, the fact still remain lucky for those who store Doge even it was created as Meme but in some reason they believe that in some point whales will pump it more harder than how it was done the earlier years that it's been created.

Happy to say that they made it in the person of Elon Musk, he start tweeting and now those early holders really enjoyed the harvest.

[isaac_clarke22]

~

It's nothing to be honest. There's no reason to shill it other than to meme it out of the public. Meme is already a big part of the internet and the guy just gets the attention through memeing out of the meme coins. He is an entrepreneur anyway. When he memes something out, it wouldn't be something that are like dank memes. Expect the meme coins.

[clarkt]

I do not think there is any particular reason or reasons for why Elon decided on dogecoin.  Elon musk is not a poor person neither is he a noob.  Elon might be out for dogecoin price just to test his popularity,  his shilling abilities,  or to explore cryptocurrency or pass time.  Whatever the reason,  Elon support for cryptocurrency was a good exposure

[Nrcewker]

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

Elon just used his fanbase and huge following to give profits to himself.
In that time he choose the coin which was valued less than copper.
He couldn’t do the same with ETH and BTC as the prices were too high.
So he targeted Doge due to it’s low price and started marketing it.
He bought Doge at low price and when suddenly the price boom up, he sold those.
That’s a businessman mind though.

[laohe628]

The reason is simple, it's profitable, and it's easier to manipulate and more profitable than Bitcoin or Ethereum.In addition to this，i can't think of any other reason.
But i also have a question why Elon Musk chose Dogecoin,not other cryptos. Is it because the community of Dogecoin has a large number of people? I think only Elon Musk could answered this question.

[m.rifki]

Profits and ease of manipulating doge are the main factors and it's very clear, with him creating hype and with prices below ETH or BTC it will be very easy to attract the attention of his followers.