The cryptocurrency market continues to be shaken by news of the Fed’s rate hike and consecutive liquidations. Accordingly, the bloodbath in Bitcoin, Dogecoin and altcoins continues today. Just in this mood of despair, Tesla CEO Elon Musk made a post. In his post, Musk emphasized his favorite cryptocurrency, Dogecoin, which is not surprising. We have compiled the details for you.
Billy Markus shared about Dogecoin
It all started when Dogecoin inventor Billy Markus shared a tweet to voice his opinions. In his post, Markus said he really wants people to “use DOGE for something.” Therefore, he said, the project has a reason to exist. He also stated that DOGE entertained everyone. Here’s what Markus shared:
“I think people should use DOGE for something beyond ‘pump and dump’. That way, he’ll have a reason to exist. The community is realizing what cryptocurrency is and what the market means. So they have the opportunity to have fun with him.”
Tweet from Elon Musk that excited DOGE fans
Elon Musk commented on Billy Markus’ post soon after. The Tesla CEO is known for his love of Dogecoin, as we previously reported on Cryptokoin.com. Accordingly, Musk has announced that some Tesla products can be purchased with DOGE in the past months. After that, an article was published on Tesla’s official webshop on how memecoin holders can transact. That’s what Tesla CEO’s response to Markus was about. “Tesla and SpaceX products, maybe in the future…” Musk commented to the DOGE inventor. After that, the post triggered speculation by the Crypto community that DOGE will add new payment methods at Tesla and Space X.
Dogecoin rises despite bloodbath
After the shares of Billy Markus and Elon Musk, Dogecoin started to rise. Accordingly, DOGE gained 5 percent in value. Apparently, Crypto Twitter interpreted the famous billionaire’s post as new use cases for DOGE. Indeed, in the future, it may be possible to purchase new SpaceX and Tesla products with a cryptocurrency that has emerged as a joke. However, only time will tell how long this will happen.
Musk’s love of DOGE
Tesla CEO often shares Dogecoin. As it is known, Musk has been an unconditional advocate of DOGE since the day he entered the crypto market. The famous billionaire announced that they were testing DOGE as a payment method on products in the Tesla web store in January 2022. After that, DOGE did a bullish rally. Prior to this event, the CEO had also consistently supported all of Dogecoin’s projects and community.
