Elon Musk says that Dogecoin is “the crypto of the people” and confirms that it does not have a Shiba Inu – DiarioBitcoin

Elon Musk says that Dogecoin is "the crypto of the people" and confirms that it does not have a Shiba Inu - DiarioBitcoin

Elon Musk says that Dogecoin is "the crypto of the people" and confirms that it does not have a Shiba Inu - DiarioBitcoin By Daily EditorBitcoin

Musk said that his workers at Tesla and SpaceX have Doge, which is why he considers it popular and not from tech circles.


The CEO of Tesla and SpaceX, Elon Musk did it again. This time in response to a tweet, he said a few words about Dogecoin That made the price skyrocket. At this time, 5:30 a.m. in New York, the price has risen 7.25% compared to yesterday, but the biggest increase occurred yesterday night, minutes after Musk wrote on Twitter, when the The currency went from around $ 0.26 to $ 0.28 in a matter of an hour, although now it is back in the $ 0.26 range, as can be seen from the DOGE symbol for CryptoMarkets.

But let’s look at the cause of the increase. Yesterday, the billionaire wrote the following answer, very forceful about what Dogecoin means to him:

Many of the people I have talked to on the Tesla production lines or in the building of rockets at SpaceX have Doge’s. They are not financial experts or Silicon Valley technologists. That’s why I decided to support Doge: she seemed like the crypto of the people.

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From town

I mean, Musk appreciates the fact that Dogecoin It is used by people outside the world of finance.

This was said in response to Glauber Contessoto, the young man who in April of this year made public that he became a millionaire thanks to his investment in Dogecoin and has since become a kind of influencer in relation to the doggy meme coin.

Contessoto posted a note from Benzinga which titled: “Nearly One-Third of All US Crypto Holders Own Dogecoin: Survey”. The media reported that, according to a recent survey conducted by the “Finder”, the adoption rate of Dogecoin in the United States it is almost double that in the rest of the world. The survey highlights that the adoption of Dogecoin in the US replaces Bitcoin and Ethereum, with 30.6% of cryptocurrency owners saying they own Dogecoin. That’s 1.6 times the global average adoption rate of 19.2%.

Along with posting the note, Contessoto wrote: “I mean, the appeal is real.”

Reply to Elon

Contessoto, impressed by Musk’s response, addressed him a few words in a subsequent tweet:

Most of us don’t have a privileged background, and honestly, we can’t relate to Silicon Valley experts. We just want to believe in one crypto that represents us all. # Dogecoin is the little guy personified in crypto, that’s why we love it. We appreciate your support, Elon!

Shiba Inu: No

For its part, Shiba Inu had reached new highs yesterday October 24, with immense retail interest. Even, as review UToday, managed to surpass Ether by trading volume, becoming the third most traded cryptocurrency.

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However, a single tweet from Musk’s hand changed the landscape with a single word:

When the user ShibaInuhodler he asked yesterday afternoon how much Shiba Inu was saving, Musk was emphatic:


Well, a single word, said yesterday afternoon, made the crypto fall 14% with a stroke of the pen. Those with Shiba Inu, of course, expressed their hatred for the billionaire.

The value is the products

Likewise, Musk also urged crypto holders not to keep all their money in cryptocurrencies, claiming that the true value “is in the creation of products and providing services to human beings.”

Affirms in the tweet what had bought Bitcoin, Ethery Dogecoin “Out of curiosity”, minimizing the importance of your investment. However, your company Tesla you have BTC on your balance. In fact, we recently reported how, thanks to the price increase, Tesla had a profit of USD $ 1 billion on its investment in BTC made in February.

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Sources: Twitter, CryptoMarkets, Benzinga, UToday, file

MRT Report / DailyBitcoin

Image from Unsplash

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