Elon Musk is a cult figure for some of the smartest people on the planet. So what he's doing with the Dogecoin baffles me.
I mean, they say the Internet doesn't recognize any form of hierarchy, but I think Musk has delusions of god-like grandeur.
Basically, he is kind of joking around.
DOGE is THE prototype of a useless coin or "anti-bitcoin".
According to his "fate loves irony" statement, he propagated DOGE because he was sure that it will pump some day.
It became a self fulfilling prophecy, also because of his tweets.
On the other hand, following twitter for at least a whole Bitcoin halvening cycle, you may be aware that some - probably many - other people also wrote tweets like "DOGE!", "DOGE TO THA MOON!", and so on, which didn't get any attention.
Honestly, who DIDN'T think that DOGE will pump after Musk's related weets. I wonder if he took advantage or if he just did it for the lulz.
Probably for shit and giggles.
Anyhow, it's an interesting and bold move from him, and it's could be a win-win for his Tesla and for us crypto enthusiast as well. For bitcoin yeah, we already know that they have invested billions already pushing the price and them liquidating some to make some profit.
For Doge though, he might be doing it for fun and obviously Doge is a meme coin and he just prove it.
And for Tesla, still doing good I guess, and it really pump during their bitcoin announcement, but it's been trading sideways, it touches almost $900.00 in February, and around $670.00 today.
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