“Who let the Doge out”
“Doge spelled backwards is Egod”
Nope, these are not tweets from a high-school influencer. These are actual Elon Musk’s tweets. The human meme, the king of social media, one of the richest man alive, who brought you Tesla, SpaceX, The Boring Company, flamethrowers, Telsa Tequila…
Isn’t it obvious that Elon was trying to pump (and dump) Dogecoin?
If Jamie Dimon did it for JPMorgan, he would be scrutinized for pump and dump and the SEC will be all over him.
So when Elon does it for Doge, why isn’t anyone calling it out?
Truth is, because he can. And we love him for it.
Unfortunately, one of the greatest strength (and weakness) of a DeFi cryptocurrency is that no one entity owns it and there are virtually no regulations and protection. Using his massive influence and love for memes, Elon is moving a crypto joke into the 4th largest cryptocurrency by market cap! That’s nearly USD $79 Billion.
Yet each time he tweets about Doge, the price spikes and more interest builds up, hyping more attention from mainstream media and perpetuating the virtuous cycle yet again.
I can only imagine how much Doge he owns. =)
My next project will be to correlate his tweets to the price and volume of Doge traded.
Oh and…
“Combined with the long-standing reality that one single address holds 28% of all coins in existence, while just 12 account for 67%, it becomes clear that Dogecoin isn’t exactly the people’s champion that interested parties would have the public believe.”
#startups #business #startupx #elonmusk #success #socialmedia #dogecoin #cryptocurrency #bitcoin
