A biography of Elon Musk that focuses on his career is about to be released, and it reveals previously unknown Dogecoin interests.
The biography of Elon Musk, which will be released later this month, is likely to disclose that the multibillionaire secretly provided funds for the creation of the well-known memecoin Dogecoin (DOGE).
Elon Musk’s Relationship with DOGE
The biography will also include information about the electric vehicle executive’s plans to introduce a social media site built on blockchain technology that would include payment elements and use DOGE, according to the Wall Street Journal (WSJ).
Many online users have conjectured for the longest period imaginable that Musk had a significant financial interest in the Dogecoin project. He has gained the title “Doge Father” as a result of the significant impact his remarks and tweets have had on the coin’s outlook.
He sent out a single-word tweet earlier this year that sparked a frenzy throughout the Dogecoin community. At the Kansas City Chiefs vs. Philadelphia Eagles NFL Super Bowl LVII game, Musk and Rupert Murdock were spotted sitting together. Many online users were curious as to what the two corporate titans were talking about, and Musk responded to a tweet by saying that he and the head of Fox News were discussing “Dogecoin.”
DOGE’s price increased by more than 5% as a result of this response, reaching $0.08399 at the moment. At the Super Bowl celebration, it was notable that the Tesla CEO was sporting his Dogecoin T-shirt.
Musk replaced Twitter’s 17-year-old “bird” logo with the Dogecoin one shortly after acquiring the company for $44 billion. This action caused the price of DOGE to increase by more than 16% in less than an hour. It was merely a brief arrangement that was replaced with the standard Twitter logo after a few days.
Dogecoin Could Remain in Existence Because of Musk
Most cryptocurrency enthusiasts are certain that Elon Musk was a key factor in the creation of DOGE.
The CEO of Binance, Changpeng Zhao, stated that he was shocked that the DOGE cryptocurrency had not disappeared since it was created. Musk might have played a role in the memecoin’s prolonged survival, according to CZ.
Recent legal proceedings involving the dog-themed memecoin were brought about by his strong relationship with DOGE. Many people think that Musk’s allegations of insider trading and market manipulation in connection with DOGE are not strong enough to warrant concern.
With the publication of his biography, it appears that more information about Musk and Dogecoin will become available to the larger crypto industry.
Get free access to our lifetime VIP membership. Join us here.
Leave a Reply