{"id":3625,"date":"2023-03-23T19:20:46","date_gmt":"2023-03-23T18:20:46","guid":{"rendered":"https:\/\/www.ceoinfluencers.com\/?p=3625"},"modified":"2023-03-23T19:20:46","modified_gmt":"2023-03-23T18:20:46","slug":"why-does-elon-musk-like-dogecoin","status":"publish","type":"post","link":"https:\/\/www.ceoinfluencers.com\/why-does-elon-musk-like-dogecoin\/","title":{"rendered":"Why does elon musk like dogecoin?"},"content":{"rendered":"

There are a few reasons Elon Musk likes Dogecoin. First, Dogecoin has a very low transaction fee, which is ideal for businesses. Second, Dogecoin is based on Litecoin, which is a more secure and robust blockchain technology. Third, Dogecoin has a very passionate and active community, which is always a plus. Lastly, Elon Musk is a big believer in the power of technology and innovation to change the world, and Dogecoin embodies that ethos.<\/p>\n

Elon Musk’s affinity for Dogecoin appears to stem from his general support of cryptocurrencies and blockchain technology. In particular, he has praised Dogecoin for its low transaction fees and lack of central authority. He has also jokingly suggested that Dogecoin could be used as a currency on Mars.<\/p>\n

Why did Elon Musk support Dogecoin? <\/h2>\n

Elon Musk is a billionaire entrepreneur and self-proclaimed Dogefather. He has his own reasons for liking Dogecoin, originally saying he liked it because fate loves irony and the most ironic outcome would be for a joke crypto to become the currency of the future. However, given Musk’s success in business, it’s likely that he sees potential in Dogecoin as a serious investment. Only time will tell if his gamble pays off.<\/p>\n

Despite the token’s comical origins, Musk has often touted the cryptocurrency as a serious source of payment. In January, Musk said Tesla would begin accepting Dogecoin for merchandise, prompting a 14% price spike to around 20 cents, according to CoinMarketCap.<\/p>\n

What will Elon Musk say about Dogecoin <\/h3>\n
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Despite announcing the sale of Tesla’s bitcoin holdings in Q2, CEO Elon Musk disclosed in a quarterly investor call that the company still holds Dogecoin. “We have not sold any of our Dogecoin; we still have it,” Musk said in the call.<\/p>\n

Elon Musk is one of the biggest supporters of Dogecoin, and has said that he will continue to buy and support the cryptocurrency. Dogecoin has been one of the hardest hit cryptocurrencies in the recent market crash, but Musk’s support could help it recover.<\/p>\n

Does Dogecoin have a future? <\/h2>\n

This is only a prediction based on historical data and should not be taken as financial advice.<\/p>\n

Dogecoin has a larger market capitalization and a more established track record than Shiba Inu, which is a newer entrant to the cryptocurrency market. Dogecoin also has a larger and more active community of users, with a vibrant subreddit and numerous online communities dedicated to the coin.<\/p>\n

Why Dogecoin is better than Bitcoin? <\/h2>\n
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Dogecoin is more efficient than Bitcoin in terms of transaction time and has a transaction fee that is a fraction of Bitcoin’s. Bitcoin’s transaction fee is currently about $30, while Dogecoin’s is only about $0.30.<\/p>\n

The current wallet with the largest amount of Dogecoin is owned by an investor from Robinhood, who holds around 29,461,944,068 Dogecoin as of June 2022. This equals about $1,886,428,988. The investor has plans to hold onto the Dogecoin for the long term, and it is possible that the value of Dogecoin will continue to increase over time.<\/p>\n

Which crypto will explode in 2023 <\/h3>\n

These are the top 10 penny cryptocurrency to buy in 2023:<\/p>\n

1. Meta Masters Guild<\/p>\n

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2. Fight Out<\/p>\n

3. C+Charge<\/p>\n

4. Robotera<\/p>\n

5. Metaverse<\/p>\n

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6. Bitcoin<\/p>\n

7. Ethereum<\/p>\n

8. Litecoin<\/p>\n

9. Bitcoin Cash<\/p>\n

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10. Monero<\/p>\n

Bill Gates is a billionaire, but he doesn’t own any cryptocurrency. He was referring to the Bored Ape Yacht Club, which is an NFT collection of digital art that was bought by celebrities and crypto-enthusiasts for millions of dollars.