Investing.com – He could have become just another name on the list of billionaires around the world, but he refuses to live in silence, enjoys the clamor and savors his letters on social media, Twitter, and turns the market upside down in a crazy way.
Will meme dogs bark on the birthday of their biggest supporters?
Some describe the American business magnate, founder of the American auto giant Tesla (NASDAQ:) and one of the most prominent players in the cryptocurrency market, sometimes manipulative, sometimes genius and sometimes crazy. But amid the huge clamor in the world of cryptocurrency, some may prefer to call him the sleeping prince.
While Tesla has abandoned Bitcoin as a payment method, SpaceX intends to launch a satellite to the moon next year with full funding from the digital currency; It seems that the CEO of Tesla has given up his obsession with the largest currency, Bitcoin, which Tesla announced months ago that it is investing more than 1.5 billion.
But why would the American business tycoon abandon Bitcoin, which alone accounted for nearly 25% of Tesla’s profits during the first quarter of this year 2021. Tesla’s net income in the first quarter was $438 million, a quarterly record for the company, Bitcoin contributed to this Profits of about 101 million dollars.
Musk’s Tesla Inc. has invested $1.5 billion in bitcoin, which is supposed to be set up on January 31. Tesla’s investment in bitcoin was revealed on February 8, when it said it had bought $1.5 billion worth of it in January 2021.
However, Elon Musk has bombarded Bitcoin with a barrage of negative tweets that cost the number one currency record losses, especially as it coincided with the escalation of the Chinese Central and the American Federal attack on the Bitcoin.
Beginning with the dog coins
Coinage started as a joke and turned into an adult competitor overnight. How did that happen? Through the tweets and support of billionaire Elon Musk, who has become one of the most popular rock singers on Reddit. After Elon Musk’s tweets moved the shares of Jim Stop (NYSE:), who recorded crazy jumps, the residents of the White House intervened and investigated the matter.
With his tweets, Musk moved to a new arena, the cryptocurrency market, to make Elon Musk’s 50th birthday the most tumultuous day in his life.
Records according to several cryptocurrency exchanges show that the founder of Dogecoin owns about 28% of the entire cryptocurrency, and as is common in the shadowy crypto world, the identity of the owner is not known. This Dogecoin address has been stored since 2019, and the address also makes an interesting gift for people trying to find out the identity of the owner or the sleeping Dogecoin prince.
It is reported that the account that owns 28% of the Dogecoin received on several occasions the number 28,061971 from the Dogecoin. It is worth noting that Elon Musk’s birthday falls on June 28, 1971.
The popularity of the Dogecoin increased after many icons supported it, led by Tesla CEO, Elon Musk. and rapper Solja Boy and star Frankie Muniz, and it is unclear what drew their attention to him.
But Elias Ahonen, a writer for Blockland, argues that despite Elon Musk’s clear interest in the Dogecoin, the title of the primary owner is unlikely to belong to him.
Why is a doggie mask preferred?
But what is the reason that prompted Musk to abandon the first digital currency in the world, Bitcoin, in favor of the Dogecoin and Dogecoin? And in an answer no less ironic about the coin itself, Elon Musk responded to Dave Lee, the host of Dave Lee’s YouTube channel, about the reasons for preferring Dogecoin.
Dave Lee asked Elon Musk: Are you curious and what are your thoughts on Solano, Polkadot, OTA, and others trying to scale at low fees? What makes you choose Doji over them?
Elon Musk replied in another tweet: “Doggy has dogs and memes, while others don’t.”
In other tweets in support of Dogecoin, Musk tweeted: “If you would like to help develop the Doji, please submit ideas on GitHub andhttp://reddit.com/r/dogecoin.
This was followed by a tweet: “Someone suggested changing Dogecoin’s cartoon based on the Moon’s face, which is pretty cool.”
Elon Musk, the founder of Tesla and the most prominent supporter of the dog currency, believes that the Dogecoin will be the currency of the moon and that it is the future of digital currencies. Musk believes that he is her godfather and sees her as the coin of the moon, and he does not stop or tire of supporting her.
Dogecoin has won unprecedented support from American business magnate Elon Musk, through tweets from the Tesla founder. “What’s the price of the dog in the window?” Musk tweeted, posting a picture with Dogecoin at $1.
And after Musk’s surprise tweet, the tops of $0.4 increased, with increases of more than 25%.
After several seasons, the Dogecoin favorite currency fluctuated between Musk, which started before Musk hosted the Saturday Night Live program on May 8. The follower of Musk’s tweets about Dogecoin will find that they vary between the stinging attack that reaches the point of describing it as a joke or a hoax. And at other times the desperate defense that Musk described himself as the godfather of that coin.
Dogecoin’s value is up more than 26,000% since the start of the year and has a market capitalization of more than $64 billion, before the recent deluge of declines. This coin has a large community on Reddit and a following on the social networking site, Twitter.
Dogecoin and Sheba
In the framework of the feverish support of the founder of Tesla for the dog meme coins, Sheba Inovy succeeded in recording strong gains during those moments of trading on Monday. Sheba has increased by more than 8%, outperforming the major currencies, and Sheba is trading at levels of $0.000007936, while rising by about 8.3% during the past seven trading days. Sheba’s market value amounted to more than $3.117 billion, while increasing by 561% within sixty days.
The Dogecoin was not far from Sheba’s highs, as it also increased during those moments by about 4.5% to $0.258 levels. During those moments, the Dogecoin succeeded in erasing its losses over the past week, to rise slightly during those moments by about 0.1%. Dogecoin has a market capitalization of about $33.457 billion, while it is up by 4445% since the beginning of the year thanks to Elon Musk’s tweets.
So will the dog meme celebrate the birthday of Elon Musk, who some see as the Sleeping Prince, or the founder of the Dogecoin?
The article does not express a recommendation or nomination, but merely a monitoring of market fluctuations, as trading in digital currencies involves high risks, including the risk of losing some or all of the investment amount, knowing that it is not completely subject to financial authorities and markets.