Ethereum just announced they will support Dogecoin. Do you think this will inspire people to take dogecoin seriously and push it above $1?
If you have ever watched a romcom where a guy keeps on teasing a girl, making jokes at her expense and then the girl does something that makes the guy fall in love, congratulations. That’s exactly the story of Dogecoin.
At least that’s what Elon Musk seems to be writing.
After nonchalantly mentioning dogecoin in a tweet, the coin’s value went up. He went back and forth between supporting it and laughing at it.
When Dave Lee, a YouTuber and Tesla investor asked Musk What makes him choose doge over other coins.
Musk said and I quote, “[Dogecoin] has dogs and memes, whereas the others do not”.
Speaking during an interview in February, Musk said all his dogecoin-related comments shouldn’t be taken seriously—something that continues to cast doubt over how much attention should be paid to Musk’s frequent, market-moving dogecoin posts.
But then, Dogecoin tanked after his SNL appearance. People like Musk don’t like it when something is associated with their name tanks.
So, he does something serious. He talks to the developers of Dogecoins for some facelift.
He issued a call to developers to submit ideas for dogecoin upgrades and improvements via Reddit and GitHub.
No one knows what kind of conversation Musk is having with the developers.
But I know that a businessman like Musk sees an opportunity with Dogecoin. Just look at his April 1st announcement. He said he planned to put a “literal dogecoin on the literal moon”. It was widely dismissed as an April Fool’s Day joke before it was revealed his rocket company SpaceX planned to do just that.
Whether or not you should invest depends on whether or not you believe in the coin… and Musk.