Elon Musk Says DogeCoin Has No Official Organization

Elon Musk Says DogeCoin Has No Official Organization

Elon Musk also stated that the process he can on Doge are limited. 

Tesla CEO Elon Musk, known as the biggest supporter of Dogecoin with his tweets and statements for the past few months and causing severe volatility in the cryptocurrency market, stated that Dogecoin digital currency does not have an official organization. 

In the last few months, Musk’s views on Doge and other digital currencies, especially Bitcoin, have brought significant voices. Earlier this month, Musk tweeted about its work with DOGE developers to make the system more efficient.

Replied to an Investor’s Tweet 

With the statements made by Elon Musk so far, investors confidence in Dogecoin has increased.

We see that Dogecoin has increased significantly since the first months of 2021. Doge, which has increased more than 8000% since January, is currently trading around $0.33. As the dates show May 8, Doge hit an all-time high of $0.73. Although there has been a decline in the past days, Doge is among the 10 most traded digital currencies. It is currently the 7th crypto currency with the largest market value in the world. 

Celebrity Adoption of the Doge

In addition to Snoop Dogg and Elon Musk, the adoption of Dogecoin by other celebrities and popular institutions has skyrocketed in recent times. With Doge attracting the attention of the sports community, Dallas Mavericks, one of the world’s most popular basketball league NBA teams, emerged as the first team to accept DOGE cryptocurrency for ticket and product purchases. CoinFlip, a US-based cryptocurrency ATM services, announced that Dogecoin will be available at 1800 ATMs for digital currency users to use more comfortably. In addition, Latvian airline AirBaltic announced in the last week of March that Doge and other digital currencies will be used for different payments.

SEE ALSO: ELON MUSK ON BITCOIN

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