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Saturday, July 2, 2022

Elon Musk Decides Not to Sell His DOGE

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Elon Musk has decided not to dump his Dogecoin Holdings. Elon is the ultimate Holder of Dogecoin and owns a significant amount of DOGE. When he was asked about the selling of Dogecoin he responded: “Yeah, I haven’t & won’t sell any Doge.” Recently Musk is exploring new ideas to speed up the transaction process of Dogecoin.

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Musk is also striving to work with developers to enhance the efficiency of DOGE transactions. Recently, along with other cryptocurrencies, DOGE is also experiencing fluctuation. The coin experienced a decline of 36.6% of its value over the last 7 days.

However, it is still doing better than many other top crypto assets in the same time period, including the likes of BNB (-45%), XRP (-41%), DOT (-51%), and UNI (-45%). Still, it did considerably underachieve BTC, as the world’s biggest cryptocurrency-maintained losses of “just” 20% in the last week.

It has been disclosed how much DOGE is owned by Musk. Musk’s net worth is predicted at above $150 billion. He can probably have enough money to take some losses on a hypothetical crypto bet. DOGE is still soaring by almost 7,000% since January 1 in spite of the recent price drops.

Thanks to Elon Musk and other celebrities who are sharing cryptocurrency memes with their followers and take part in increasing the reputation of cryptocurrency. Increase in the coin reputation cryptocurrency industry leaders and are adopting cryptocurrency. For example, cryptocurrency lending platform YouHodler recently allows Dogecoin as a supported type of warranty. It means that users can now gain interest in DOGE holdings or utilize it as a guarantee for loans.

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