Topic: Do you think Elon Musk is a Dogecoin shill? (Read 393 times)

We may never know Mr. Musk's true intentions behind Dogecoin. He could be expressing positive comments about it just to pump the price of Dogecoin on the market for his own benefit. Or maybe he wants greater exposure by linking himself to crypto's ever-rising popularity in the mainstream world? Whatever the case may be, we cannot deny the fact that Elon Musk is a Dogecoin shill. Eventually, people will get bored of Dogecoin as they seek the next big thing in crypto. That's the way it works. The DOGE pump will only be temporary as the hype fades away in the long term.

Nonetheless, it seems to me that Elon Musk does not know much about Dogecoin. If he did knew about it, he wouldn't had been promoting it in the first place. Dogecoin was created as a joke cryptocurrency meant to increase in supply over time. The huge inflation present in the Blockchain, should make the coin worthless over time. There are now billions of DOGE in circulation, which means that there are plenty of coins for everyone. Something which lacks scarcity shouldn't be worth a cent in my opinion. Who knows how far Dogecoin will go in the short term as Elon Musk continues to shill the coin across social media platforms? Just my thoughts

The fact is that Elon Musk has previously repeatedly expressed that he likes Doge Coin, but at that time his words were perceived differently and nevertheless, because of this, it can be assumed that he always expressed support for this cryptocurrency. Please, not a single owner of Doge Wedge regrets what is happening, because all the excitement due to Musk's tweets brought them a good income, and the fact that someone bought a coin at an increased price is a personal decision of everyone.

Although it is interesting, if you do not take into account the date of publication of the information that Musk bought Doge for his son for $ 1.5 million, then what the chronology of events actually was: the purchase of Doge, and then the famous tweet or vice versa.

Yes, the effect of Elon Musk's presence on Dogecoin is very visible because I myself have never seen Dogecoin price spikes of that size in the past, so it is only natural that some people praise Elon Musk on this even though there are also losses for those who buy at that price which is high when the spike occurs.

this was the first year that the so-called memecoin Dogecoin broke its record by giving a high price that made its fans scream out loud.
I think it's also because of Elon Musk's presence. I don't think Elon Musk is a shill but a great developer and also a big Dogecoin investor. It is natural that we are grateful to Elon Musk

Couldn't agree more with you, mate. Dogecoin's sudden rise is largely attributed towards Mr. Musk's positive comments across social media platforms. Being a prominent figure like himself, comes with its benefits. As long as Elon Musk keeps shilling Dogecoin, prices will only go higher. But as we all know, nothing lasts forever. What goes up, has to gown down one way or another. We should expect some market correction once the hype comes to an end. The next bear market could lead Dogecoin back to sub $0.01 prices faster than you could imagine.

Nonetheless, we cannot deny that the recent pump has made many early investors wealthy. But newcomers into Dogecoin who have invested now, will regret themselves dearly once prices go all the way down the drain. What matters is not the price of a coin, but how useful it is for daily payments. I'd say that Dogecoin is certainly useful for micropayments, but development activity is non-existent. Compared to other cryptocurrencies on the market, Dogecoin is obsolete. There are far better altcoins on the market with cheaper fees and faster transaction confirmation times than Dogecoin itself. Yet, people don't care about this as they're focused on filling their pockets with money in the least time possible. As it's said in the real world, "money talks". We'll see how long Dogecoin will be able to retain its popularity as people flock to the next big thing in crypto. Just my thoughts

Don't know if he is being a known shill for dogecoin in his own eyes.
But I did hear tesla is thinking of allowing you to mine doge while youre charging car up at their powerstations.
Now this would be an interesting development for crypto mining as a whole.

which makes me confused why and why he did it all. If that could happen to Doge, I think there is a chance that the market will also experience a bad correction soon, not just Dogecoin.

You must see the latest tweet from elon and it's clear if he was only manipulating the doge market. So many parties have been talking about this consider after his tweet and doge coin gets dumped.
That could be the end of doge if elon will be creating another bad tweet about doge. It's easy for him to drive the trend.
That's crazy.

Yap you are correct,there is no correlation between them and i also think that he was only going to stimulate this but he is an influencer so he give hyped for DOGE,currently its price was crazy going increase when he tweeted about it.

^ Definitely right, there is no correlation between them. Binance is an exchange that very popular and it is different from Elon Musk which is a mass influencer. Probably this Elon Musk had an investment in DOGE back then and since he is a very influential person, he used his power to promote Dogecoin and if you see after the shills dogecoin, it has a massive pullout which is probably he sell his holding. Just like on BTC, right after he promoted it and put it in his Twitter bio, he accepts this as a mode of payment.

I personally think that Elon Musk is a shill but to a certain extent.

When he tweeted about Dogecoin, its price on the market skyrocketed and lots of investors rode the hype train in hopes of earning long-term investment. He also tweeted that he will give his full support to a MEME coin in the market. Maybe after a few months, he will definitely cash-out his winnings plummeting its price on the market.

Doge and Elon Musk have nothing to do with Binance. Binance is just a market and I don't think there's an urge to buy Doge. only Elon Musk tweeted about Doge and that made Pump's price high yesterday. I think you are wrong in giving your opinion on Binance's unrelated Pump doge yesterday

Honestly I don't know this, why do you call DOGE as a Binance coin?

Is it because it has Binance owned the biggest trading volume of this coin, or something else?
Sorry, I'm being ignorant as I don't really follow what you were saying.

DOGE advertising by Elon Musk is indirect advertising of Binance, because DOGE is purely a binance coin and the market maker sets the pace for it on Binance. Trade and Buy DOGE = Trade and Buy on Binance. You can go to Kraken, but it's not trendy or youthful.

I agree, his recent investment was into bitcoins. So he is definitely pro crypto currencies and wants to profit of the recent rally. He is working hard in Tesla and SpaceX so he probably doesn't have too much time to learn about alt coins. Best to not take his word for DOGE recommendations.

Im not sure about that dude, We have seen that from a lot of news if elon has only bitcoin and that's also small amount of bitcoin. he was buying doge recently for his baby. He has been tweeting about that on his twitter account. Elon is not having intention to use doge as investment consider it has infinity supply combined with big inflation.
That's enough reason to call doge as the crap coin. It will be dumped again for sure.

I don`t like how Elon Musk acts this way, because situation looks like common cryptocurrency pump or boost in any words. Many people can lose money, or already have lost them because of his tweets and I think Elon underestimates his media power. He acts in interesting way, bt it can be harmful for many people

Sure, it so obvious. Im sure that he has millions in doge coin and just want to earn even more

Stop watching conspiracy theories at least.

He already said it to his tweet that he bought DOGE so its obvious that he is buying the coin he is shilling. One thing more is that it isn't his GF or BF or relative that is buying much DOGE (maybe they are but in silent) but his followers are the ones who are trying to buy it thus the price of it goes up and up. Musk has many followers so pumping DOGE would be easy if he says so. Aside from the followers, add those newbie investors who are FOMO'ed by this and hoping that they can still get profit even though it already went up that much.

Not touching this as of this moment. I know that there will be a time that this coin will go down soon.

Lol, your title is funny in my opinion. Anyway, in any way, Elon Musk has repeatedly shown confusing and unexpected opinions. What Elon blew into Doge was actually too dreadful fomo. However, he is a billionaire with a great reputation for the crypto market, not just Tesla. Obviously he understands the volatility of the market. What is his intention after firing a series of bullets on Doge, followed by Bitcoin. Benefit is born. Surely he didn't make a farce.