Why Elon Interested in Dogecoin?

[DanielBroonze]

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

[asriloni]

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.

[wack slacker]

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.

[Xinarae*]

The reason Elon Musk is interested in dogecoin is that as an investor he holds this currency and mentions it in his tweets for a price increase. If other investors invest its price will increase rapidly as elon musk is one of the most influential billionaires of this century we are convinced that he has a huge amount of advice for running a new business. Bitcoin and ethereum are very popular currencies but as investors elon would like to raise the price of these currencies.

[Gayong88]

For the exact answer, only Elon knows, but if we look at recent developments, both Elond and other parties provide strong support for the improvement and use of Doge as a means of payment such as the discourse of Q1 2022: https://www.cnbc.com/ 2021/05/09/spacex-accepts-dogecoin-payment-for-doge-1-mission-to-the-moon.html

[Coyster]

The thing you must know is that Elon Musk buying dogecoin doesn't mean you should as well, for quite a while now, whenever Elon tweets/talks/endorses any crypto coin, you can definitely expect a hype of that coin afterwards; Elon Musk wouldn't basically open up about all his reasons why he fancies a particular cryptocurrency to the other.

Thus, rather than being interested in why Elon Musk likes Dogecoin, you can do your research of Doge, find out it's pros and cons, it's long term sustainability, how used it'll be in the next couple of years, TX fees, network speed, etc, that way, you could form a basis why not only Elon, but every other Dogecoin user is interesting in it, and you could prolly invest as well cause you've DYOR.

[TastyChillySauce00]

We don't know what the real reason behind it but elon just seems to like doge because it's a meme coin and the shiba dog as its logo. I mean when he first supports doge he just supports it out of the blue and maybe the fact that developers of this coin itself already sold their doge possession that opens up a way for elon to take over the influence to this dogecoin as well as preventing him from being taken advantage of by some small group of people who possess dogecoin but that's just an assumption.

[TheUltraElite]

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

Why is an answer you will never get a concrete answer to.

Easy to think that he is only involved in pumping the price so he can sell and make a profit. At least that is what we have seen previously with celebrities promoting certain coins or being associated with those coins and making a nice profit in front of their governments who are unable to stop the money laundering.

To make it simple, people like Musk have a lot of cash at hand that needs to be stored in some safe place. They cant go to the bank because of taxation they would face and also the scrutiny of revenue departments. So they move to these safer havens of money and use them to raise the value of their assets.

[Luffygroove]

Probably because he doesn't have to learn about fundamental technology, utilities, or whatsoever lol. Kidding aside, we know that Doge already has a name before. It's the first meme coin made ever for fun, it's a light topic, and it's easy to be hyped for. People don't need to think too much about this coin and Musk is a clever guy, he knows how to move the crowd. Personally, I never thought it would be this huge, but the fact speaks differently.

[Hobo66]

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 has Invested a lot of money in DogeCoin so he is shilling Dogecoin for getting big profit and second thing that I think, he is only taking meme token.

[bitkanu]

He owned some doge coins and that makes sense if he was interested in doge coin due to the chance for profitability and it's not only that maybe you forgot to mention bitcoin as well.
Elon was also investing in bitcoin and he owned some bitcoins too. That being said doge is not the only coin that used by elon to store his asset.
Bitcoin is also making him interested.

[quins]

For the exact answer, only Elon knows, but if we look at recent developments, both Elon and other parties provide strong support for the improvement and use of Doge as a means of payment such as the discourse of Q1 2022: https://www.c[Suspicious link removed]m/ 2021/05/09/spacex-accepts-dogecoin-payment-for-doge-1-mission-to-the-moon.html

permission to quote sir... exactly sir this is why did i buy this coin because i know the destination, hopefully it will increase even more.

[ashmodeus]

i am not sure about reason why he love soo much dogecoin , but whatever is it , i am really sure he have a plan with doge, probably invasion to fiat currency or something like that 

[FairUser]

I remember it starting with the SWB movement in stocks and then the doge coin is the name they started to care about, and it keeps going up until now. I see this as purely a bubble, and while it may increase, I won't be involved with it at this stage, and I pray for those who are stuck with this coin, good luck next time.

[passwordnow]

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

That's an easy question and the answer is that he's a holder and investor of it. A person would put the topic into his favor because he's going to benefit from it.
It's very possible that he's one of those owners that owns a lot of Dogecoins that's likely been monopolized. As he keeps talking about it and shares his tweets to the public about Dogecoin. It's one thing for sure that he's doing it for his personal gain.

[MusaMohamed]

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.

I don't think Dogecoin is the only coin that he can used on Mars. Nothing special from Dogecoin but it is attractive because Elon can be a biggest influential person for this coin. He is wise and takes this opportunity. Accumulation 2 or 3 years ago and choose a bull market and altcoin season to shill it to the Moon.

The adoption of SpaceX for DOGE-1 is only official announcement that he is a supporter of Dogecoin.

Many other altcoins can be used as same as Dogecoin but this coin has big network hashrates that many other shit altcoins don't have. It is another characteristic that makes Dogecoin is different among the crowd of altcoins.

[Teraboy]

A big name like elon will always have target why he was choosing doge. Based on some tweets from him if doge coin will be really useful in the future to be the internet currency.
i have been speculating some reasons why elon was choosing doge.

1. doge has not controlled by any party
2. decentralized
3. already a popular coin
4. cheap tx fees.

[masterrex]

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

IMHO, I think it is related to Dogecoin origin it was purposely created as a meme coin, and Elon Musk considered it as a joke at first but because of Elon's popularity people picked it as a serious statement and that's no surprise at all because it came from a very successful person and second richest man on the planet so after that, the Dogecoin price was skyrocketed up to this day and Elon Musk has seriously promoted it now by announcing the Doge will go to the moon literally.

[MusaMohamed]

IMHO, I think it is related to Dogecoin origin it was purposely created as a meme coin, and Elon Musk considered it as a joke at first but because of Elon's popularity people picked it as a serious statement and that's no surprise at all because it came from a very successful person and second richest man on the planet so after that, the Dogecoin price was skyrocketed up to this day and Elon Musk has seriously promoted it now by announcing the Doge will go to the moon literally.

Elon chose it because he can be the only or biggest influential person for this meme coin. He has companies and communities behind to support his massive marketing. Twitter and his followers give him a free channel to shill this coin.

I have never seen a single influential person can create hype news and keep it going too long like Elon Musk. I don't like him but reality must be accepted. He is a genius, isn't he? Additionally, he has good speeching skills as what we see in his first SNL show.

[pakhitheboss]

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.