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Elon Musk isn't giving up crypto: Musk's New DOGE move!
Musk launched the poll on Twitter.
Elon Musk, the Tesla electric car manufacturing giant and CEO of SpaceX, launched a poll on Twitter to find out how cool the community believes the Doge is.
DOGE or all the other cryptos?
Elon Musk shared on Twitter, asking his followers whether the future cryptocurrency will be DOGE, a joke coin, or all other cryptocurrencies. According to the results of the poll, a large majority preferred Dogecoin. It seems that the proportion of people who choose all other cryptocurrencies remains quite low.
Musk and Dogecoin
Elon Musk has shared several tweets about Dogecoin in the week we left behind. Dogecoin has seen a significant increase in the price of the DOGE following the statements of Musk, who called it “humanity's cryptocurrency.”
But the impact of these statements did not last long, and the DOGE began to chart its decline again. In fact, some of these price movements experienced in the Doge are described as “pump and dump” movements.
Did Musk Give Up Bitcoin?
GameStop (GME) shares had experienced a very big move before wallstreetbets ' move at the end of January and then DOGE had risen. In the immediate aftermath of those moves, Musk deleted his entire biography on Twitter, writing only “Bitcoin.”
With Musk's move, the price of BTC increased by $ 6,000 in minutes, and some names argued that this started a new rally in BTC. But as with the Doge, the” Musk effect " didn't last long, and BTC was back in the $ 35,000 zone. Still, Musk's influence does not appear to be entirely over, and BTC has been retesting the $ 40,000 zone in recent days.
So although the BTC price experienced a decline after a momentary rise, it seems to have continued its upward momentum after that.