As many already know, Elon Musk has left the current support for Bitcoin and is surfing his energy and time on Dogecoin instead. Musk was very public about this as he tweeted about the use of fossil fuels such as coal when it comes to Bitcoin mining, thus putting a direct strain on the environment. Tesla did decide to dump its stash of Bitcoin that was acquired for about $1.5 billion but then Tesla’s statement in the following days as they got enough heat from the Bitcoin proponents read that they might not go through with it. So, that is the case, presented in front of you in full entirety, and since then, well way before this, Musk has made Dogecoin his personal project.
Elon Musk Hinting at a Near-Future Price Surge for Dogecoin
Recently Elon Musk got to twitter about an update on Dogecoin, and there was a picture of a shiny neon window inside which a barely visible $1 note resides, and the tweet did read ‘How much is that Doge in the window?’ This only points towards one thing and one thing only that according to Elon Musk, the Dogecoin’s price might improve to $1, which has been a tumbling task for the meme cryptocurrency all these years. This is not the first tweet from Musk regarding Dogecoin as the influencer has been supporting the cryptocurrency for a while. Being the CEO of Tesla and SpaceX, Musk is taken pretty seriously in the business industry, and his words do reach celebrities and financial enterprises.
So, it is quite possible that this would incur a change of approach for investors and traders towards Dogecoin, and before you know it, investors will be jumping at making some investment with the meme cryptocurrency. If this is the plan of Musk all along to make the price of Dogecoin hit $1, then it is possible that it might work. In a fair number’s assessment, Dogecoin has surged more than 6500% since the beginning of 2021. And with enough influencing and free advertising received from Elon Musk over all this time, it is possible that Dogecoin might finally reach $1, and it is already happening as, since the publishing of the tweet, the cryptocurrency is already up 20% in relation with the previous price.