We all know about the fact that billionaire and Tesla CEO Elon Musk has been playing a major role in the prices of smaller crypto coins over the last many months. In fact, he drove the prices of Dogecoin massively many months ago when he appeared on an episode of Saturday Night Live, where he tweeted about taking Dogecoin to the show as well (May 2021).
The major influencer in crypto trading has shown his continuous favour for the Dogecoin crypto and of late while there’s been a stagnancy in the growth of the coin, there’s another coin called ‘Shiba Inu‘ which has been really getting the attention of the traders in recent months. It’s been growing a lot and even jumped 50% a couple of days ago, until a tweet from Musk brought the momentum to a halt.
Yes, he’s still favouring the Doge lovers and this tweet came as a reply to Dogecoin millionaire, Glauber Contessoto’s tweet on how almost a third of the US population holds Dogecoin and is the ‘people’s currency’. He mentioned that DOGE is a part of his personal portfolio and a lot of people on the production front at Tesla and SpaceX own the coin as well.
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“Lots of people I talked to on the production lines at Tesla or building rockets at SpaceX own Doge. They aren’t financial experts or Silicon Valley technologists. That’s why I decided to support Doge – it felt like the people’s crypto,” read his reply to Contessoto. Musk has also mentioned in the past that he doesn’t own SHIB as part of his crypto portfolio.
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The conversation started with regards to a survey by Australian research firm, Finder, who published the findings of the study which said that almost 30% of crypto holders in America claimed to be owning Dogecoin. And while this didn’t have anything to do with SHIB directly, the momentum was definitely snubbed, which makes us think that this was a really ‘well-timed tweet’ by Musk.
Lots of people I talked to on the production lines at Tesla or building rockets at SpaceX own Doge. They aren’t financial experts or Silicon Valley technologists. That’s why I decided to support Doge – it felt like the people’s crypto.
— Elon Musk (@elonmusk) October 24, 2021
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