Elon Musk says he remains a dogecoin fanatic

Elon Musk might be one of the only few people in the world who can catch millions of attention just by changing a profile picture on a Twitter account. 

Social media was ablaze recently because of Musk’s new profile picture, which shows him wearing sunglasses with a reflection of Dogecoin’s famous Shiba Inu.

This simple change of profile picture has increased dogecoin’s price by 10% but eventually dropped in the continuous waves of the market that day. 

What’s up with dogecoin?

According to the latest data as of this writing, dogecoin is currently trading at $0.165. At the beginning of the year, the crypto hadn’t performed quite well with only a $0.004 valuation. 

But through the endorsements of big names like Mark Cuban, Snoop Dogg, Gene Simmons, and of course Musk himself, dogecoin has steadily soared into value and popularity. 

According to Coinbase, dogecoin has climbed 1,250% in the second quarter of this year, from $74 million in April, and the meme coin has risen to $995 million in June. 

Bought his son a Dogecoin

Musk also shared that he bought his son a dogecoin so he could, in his own words, be a “toddler hodler,” but the billionaire didn’t disclose the amount of DOGE he bought for his son. 

Also, on several occasions, Musk has been indirectly saying that he doesn’t have any plans to sell any of his dogecoin holdings. 

The Tesla and SpaceX CEO also shared a few but very important updates on bitcoin and ethereum. Musk said that his companies are pursuing a multilayer transaction system to provide a more seamless service for their users. 

 

Image courtesy of Cointelegraph News/YouTube

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