What Happens If Elon Musk Starts Shilling Dogecoin Again?

2023-1-24 20:00

Dogecoin is now a long way from its all-time high of $0.7 which was brought about by billionaire Elon Musk aggressively promoting what he calls his “favorite” cryptocurrency. However, as the meme coin continues to trend low, even with the current bull sentiment, there is always the possibility of Musk resuming his very public support for Dogecoin.

Can Elon Musk Recreate 2021 For Dogecoin?

Elon Musk’s influence on the Dogecoin community and the price of the meme coin by extension is still very prominent. Just the fact that Musk had purchased Twitter had sent the price of DOGE rallying over 150% in a matter of days. But so far, there has not been much from the billionaire about the cryptocurrency.

However, looking back to early 2021 when Musk had been posting religiously about Dogecoin, one can’t help but wonder what would happen if he started doing that again. Given the current position of DOGE’s price compared to where it was back in 2021 before Musk started posting about it, the price of the meme coin would quickly reach a new all-time high.

As Bitcoinist reported, the price of DOGE rallied over 70,000% in 2021 due to Musk’s shilling. This took the altcoin from $0.0011 to $0.78 very quickly. Going from the current price trend, a similar pattern would see the price of DOGE quickly surpasses $5. Whereas another 70,000% rally would put the price above $60.

While $60 may not be realistic at this point, another consistent push from Musk can easily put Dogecoin ahead of the rest of the market. Even if the price of DOGE does not reach the expected prices, it will definitely be seeing new all-time highs if Musk threw his full weight behind it once more.

Implications For DOGE And Other Meme Coins

The implications of such a move from Elon Musk are very obvious for Dogecoin but it will also spill over to other meme coins. Musk’s shilling of Dogecoin can be rightfully said to be the trigger behind the impressive 2021 meme coin season and it could trigger another one.

Coins such as Shiba Inu and Baby Doge will easily see an upside if DOGE were to begin rallying. This is because investors will flock to other meme coins, believing they missed the train on Dogecoin, but not wanting to miss out on others.

Overall, support from Musk toward Dogecoin will not only work out in favor of the meme coin but also for the entire crypto market as his influence draws new participants to the crypto space.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Dogecoin (DOGE) на Currencies.ru

$ 0.1526 (+0.17%)
Объем 24H $897.644m
Изменеия 24h: -0.98 %, 7d: 5.68 %
Cегодня L: $0.152 - H: $0.1563
Капитализация $22.029b Rank 9
Цена в час новости $ 0.0904332 (68.74%)

musk dogecoin elon trend low even coin

Источник: bitcoinist.com

musk dogecoin → Результатов: 126


Фото:

Elon Musk Sees Dogecoin as ‘Stimulus for People Kicked by Pandemic’ but Says ‘Please Invest With Caution’

Spacex and Tesla CEO Elon Musk sees dogecoin as his “private stimulus for the people” that represents “legit hope for people” hit by the coronavirus pandemic. While the price of dogecoin has been pumping alongside a number of other cryptocurrencies, Musk cautioned, “Cryptocurrency is promising, but please invest with caution.” Elon Musk Sees Dogecoin as […]

2021-5-9 20:00


Фото:

Elon Musk ‘Resigns’ as Dogecoin CEO After Price Soars 30%

Dogecoin has become the unexpected new champion of the sudden cryptocurrency bull market which gripped the industry this week – thanks to Elon Musk. Musk Pets ‘Pretty Cool’ DOGE In a series of surprising yet distinctly familiar tweets, Musk, who has hinted at his alleged fondness of Dogecoin, said the meme-based cryptocurrency was his “favorite” and described it as “pretty cool.

2019-4-4 23:00


Фото:

Создатель Dogecoin помог Илону Маску бороться с криптоскаммерами в Twitter

Генеральный директор Tesla Motors, изобретатель и инвестор Илон Маск (Elon Musk), устав от “раздражающих” криптовалютных скаммеров, предлагающих пользователям Twitter от имени знаменитости участвовать в розыгрышах токенов, обратился к создателю криптовалюты Dogecoin Джексону Палмеру (Jackson Palmer) с просьбой изобрести способ борьбы с криптовалютными мошенниками в сервисе микроблогов.

2018-9-18 23:56


Elon Musk And Dogecoin’s Jackson Palmer To Fight Twitter Spam Bots Together

Dogecoin’s creator, Jackson Palmer, and Tesla’s CEO, Elon Musk, decided to team up to fight against spam bots on the famous social network Twitter. @ummjackson if you can help get rid of the annoying scam spammers, that would be much appreciated — Elon Musk (@elonmusk) September 17, 2018 Immediately after, Jackson Palmer answered positively. Update: […]

2018-9-17 23:00


Илон Маск призвал создателя Dogecoin к борьбе с Twitter-мошенничеством

Глава компаний SpaceX и Tesla Inc Илон Маск предложил создателю криптовалюты Dogecoin Джексону Палмеру придумать способ борьбы с криптовалютным мошенничеством в Twitter. @ummjackson if you can help get rid of the annoying scam spammers, that would be much appreciated — Elon Musk (@elonmusk) 17 сентября 2018 г.

2018-9-17 17:24


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru