CEO of Tesla Elon Musk on Tuesday, he reminded his followers on Twitter that, despite his recent interest in the Dogecoins (DOGE), he still has no formal authority over the project.
Musk responded to a comment from a DOGE-themed account, the owner of which believed that Elon had decided to run Dogecoin as one of his own companies and that he would actually become the general manager of the project.
However, the self-proclaimed “Dogefather” publicly replied that he was not really the boss and that no one was reporting to him about the currency.
.@ElonMusk appears to be treating #Dogecoin like one of his own companies
He’s actively marketing $DOGE, engaging with the community, and using his engineering and leadership prowess to contribute to #DOGE development
With Elon as “Doge CEO”, we are in good hands! ????
— ???????????? (@itsALLrisky) May 25, 2021
“Please note that Dogecoin has no formal organization and no one reports to me, so my ability to act is limited.”
Written by Musk.
The results of a recent survey in Australia revealed that more than 50% of respondents believe that Elon Musk is the inventor Bitcoinu (BTC).
The growth of the Doge and petitions against Musk
Dogecoin is a meme coin in the form of a cryptocurrency, which was created for purely humorous reasons. After the currency was launched in 2013, the joke eventually disappeared and the coin disappeared into relative oblivion until it was hit by Elon Musk in 2020. His subsequent tweets helped Dogecoin reach its current value.
Others attribute this to this billionaires blame for the irresponsible volatility of the cryptocurrency markets. Even a petition was launched on Change.org after the crypto market crash in mid-May, demanding that Musk sell his bitcoin shares to get rid of the influence on cryptocurrencies before his tweets caused another unwanted uproar.
Conclusion
Dogecoin is currently trading around $ 0.35, down 40% from its $ 0.59 high, before the recent market downturn. Although this cryptocurrency provides no innovation, it has no real “raison d’etre” and is popular only because it has become a toy of the famous multibillionaire in the last 12 months, it has increased its value by 512.32% in the last 3 months.
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