Elon Musk says that he is not going to sell his dogecoin

TL;DR Breakdown

Musk said that he had not sold his dogecoin holdings and he will not sell them at all. He replied to  Dave lee’s comment on his post yesterday.

Elon Musk has consistently and openly supported the meme coin. This has been witnessed in his tweets which he has tweeted several times about the coin, which has facilitated the rose of the coin’s value.

Elon Musk, a cryptocurrency supporter, has tweeted several times this year about digital assets making the prices gyrate.

The previous week,  Elon Musk dropped bitcoin from being a payment method in the purchases of electrically powered vehicles (tesla). Musk argued that the digital asset was hazardous to the environment as its transactions and mines use a lot of fuel energy which is not environmentally friendly. His move affected the entire crypto space. Most of the digital assets recorded a drop.

1. Will Musk impact DOGE PRICE?

This is the question that many investors are asking themselves. Suppose Elon Musk decides to use the joke coin as a payment method to his company (Tesla). The price of the coin that does not even have white paper will significantly spike up. DOGE is the most likely coin for him to choose as he has been supporting the meme coin.

Dogecoin was launched some years back is currently trading at 42 cents. The joe coin now is in the top ten cryptocurrencies though its founders did not take the coin seriously. The joke coin is predicted to be about $1 at the end of the year.

The majority of young investors world are preferring investing in the DOGE. A post where CanaDoge posted a video of two cars racing. One of the cars represented bitcoin, and the other represented DOGE. after a few seconds of the race, the DOGE overtakes the BTC. It was Relating that DOGE  is a suitable replacement if BTC.

Source: https://www.cryptopolitan.com/musk-says-he-will-not-sell-his-dogecoins/