Zie hoe DOGE reageerde op Musk's Twitter-overname

• Musk shares a history with DOGE. His tweets and comments often affect the memecoin’s price.
• DOGE-investeerders sloegen Musk voor zijn steun aan de munt en beweerden dat de Tesla-baas hen had misleid.

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Crypto users have found it difficult to explain why Tesla billionaire, Elon Musk, chose to throw his weight behind Dogecoin, choosing it above other popular and better-performing coins. Musk has not only voiced his support for the memecoin but has also been able to influence the coin’s price via his actions.

Musk’s tweets are known to spark massive reactions among his followers. But acquiring Twitter not only triggered wild jubilations amongst his fans but also affected the prices of assets dear to his heart. Dogecoin is one such example.

Musk rondde onlangs zijn verwachte aankoop van Twitter af voor $44 miljard. De 51-jarige is al lang een bewonderaar van de crypto-industrie, dus zijn aankomst op Twitter was een grote overwinning voor cryptoliefhebbers. 

Dogecoin reportedly rose by 9% following Musk’s acquisition. As of Friday morning, DOGE was naar verluidt gerangschikt als de negende grootste cryptocurrency, met een marktkapitalisatie van $11,5 miljard. De memecoin heeft sinds augustus niet meer zo'n sterke stijging doorgemaakt, wat aantoont hoeveel invloed Musk uitoefent op de cryptocurrency.

Crypto enthusiasts predict that DOGE might become the next big coin in the market due to Musk’s affection for it. Traders predict that the new Twitter boss could decentralize the social media site and make DOGE an official currency, which would be used to pay for transactions on the network.

Despite his support for the memecoin, Musk has not enjoyed a smooth relationship with some of the founders of DOGE. In June, Dogecoin co-creator Jackson Palmer made some shocking claims about the SpaceX boss, slamming him for “pretending.” Jackson told an Australian site,

He’s a grifter, he sells a vision in hopes that he can one day deliver on what he’s promising, but he doesn’t know that. He’s just really good at pretending he knows.

Some DOGE investors later filed a lawsuit against Musk and his companies for his supposed support of the memecoin. Investors claimed the “defendants falsely and deceptively claim that Dogecoin is a legitimate investment when it has no value at all.”

Het valt nog te bezien of Musk meer steun voor DOGE zal tonen of een meer ontvankelijk project zal omarmen.

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