✍️ 11 November, 2022 – 12:27 👤 Editor: Jakub Motyka
- Dogecoin (DOGE) is Elon Musk’s favorite currency.
- On several occasions, the billionaire has given the coin a strong boost with barely any comment. Does he has any reason to do so? How much Dogecoin (DOGE) does Elon Musk own?
- The latest news about cryptos, in our Telegram channel.
Dogecoin (DOGE), the currency based on the shiba inu dog meme, is a favorite of billionaire Elon Musk and is speculated to have a large amount. Their close relationship is no secret to anyone, and the effect of each of their comments when it comes to raising or lowering the price of the token. However, is there a reason for this? How many DOGE does billionaire Elon Musk have?
Musk is recognized worldwide as a person who does not take anything seriously on social networks. Proof of this is the large number of meme publications and the product catalog of his company “The Boring Company”. Despite this, his support for the Dogecoin (DOGE) project has proven to be more than just a joke.
The Relationship Between Elon Musk And Dogecoin (DOGE)
Differing from what many believe, Dogecoin (DOGE) became one of the main cryptocurrencies in the market without the help of Musk. Her support of him began in 2019, after she posted a tweet saying “Dogecoin might be my favorite cryptocurrency. Pretty cool.”:
Unsurprisingly, the price of Dogecoin (DOGE) spiked following the comment, and since then, the billionaire has been one of the biggest catalysts for the price of the coin to rise. crypto DOGE.
During the spring of 2021, the cryptocurrency reached 69 cents after several initiatives in which Musk participated. From a series of tweets regarding cryptocurrency and his dog, Floki, to a post in a fictitious magazine called Dogue, designed to imitate Vogue.
However, the high point before his fall was a sketch on Saturday Night Live, where Musk played, as a joke, an expert economist. During his presentation he explained his obsession with dog cryptocurrency, saying, among other things, that it was a scam. The next day Dogecoin (DOGE) fell 36%.
How Much DOGE Does Elon Musk Have?
Despite his countless jokes and comments about Dogecoin and cryptocurrencies, Elon Musk has never revealed his positions. Currently, no one knows how much DOGE he might have.
However, many believe he is the owner of one of the major digital wallets holding close to 28% of all Dogecoin. This thesis gained a lot of strength after a transaction of 420.69 DOGE to the wallet, making a clear nod to one of the billionaire’s favorite jokes.
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