Tesla Inc (NASDAQ: TSLA) CEO Elon Musk keeps doing mind-boggling stunts, and this time it’s all about the Dogecoin cryptocurrency. The top manager tweeted about April Fools jokes and most people thought he was kidding. The tweet was about Musk’s SpaceX plan to send a Dogecoin token into space, likely to land on the literal moon.
Musk and his commitment to Dogecoin
Musk agrees that he likes to joke about Dogecoin and doesn’t want anyone to misinterpret his jokes. In an interview with the Clubhouse chat app, in which only invitations were possible, the officer expressed how much he commuted to Dogecoin. Analysts believe Musk’s dedication and love for the Doge coin is sufficient motive and inspiration to send it into space.
It was in 2019 when the Twitter poll made Musk the Dogecoin CEO by voting. The title seems relatively insignificant to many, but it’s incredible how happy Musk seemed about it. The company’s executive joked that he would offer more support to the Dogecoin if large accounts managed to sell their holdings in the previous month. Musk added that the market was ruled and controlled by a few users.
The bull is running
The Dogecoin price has soared to the 900% mark this year. Interest in this cryptocurrency continues to grow. Bitcoin maintains its top position and is currently the largest in terms of its total value of $ 1.1 trillion. Many retailers moving into the markets to buy bitcoin and interest in Wall Street adequately explain the recent surge in the bitcoin process.
Bitcoin price has reportedly nearly doubled since the start of the year. The second largest cryptocurrency, Ethereum, has also shown a remarkable performance, which analysts closely attribute to the outstanding growth in decentralized finance (DeFi).
Dogecoin is getting a boost from Tesla’s CEO after a brief hiatus. Analysts believe that Musk will play an important role in raising the Dogecoin price and that the bull run in the sector will continue. Tesla has invested around $ 1.5 billion in Bitcoin and is hoping to add more to its balance sheet. The whole thing about Musk’s private rocket company putting Dogecoin on the moon continues to generate mixed reactions.