Elon Musk has been on Twitter again to talk about Dogecoin, and this time, he refers to the coin as the "People's Crypto," saying that regular people have stakes on it, unlike the others. Musk said that people who work at Tesla's production, as well as those that work on SpaceX's rockets, are known owners of the coin, available and affordable for all.
Musk said that this is one of the reasons why he supports Dogecoin, and he is a known personality that casually speaks about the meme cryptocurrency every once in a while. Moreover, the Tesla CEO said that Dogecoin's resources are limited and that they need every help they can get, especially from someone like him in the industry.
Elon Musk: Dogecoin is the 'People's Crypto'
The Tesla and SpaceX CEO has yet again spoken with regards to the meme cryptocurrency of Dogecoin, and this time, it is in reply to a tweet that shows statistics of Doge holders. The screenshot of the user that calls himself "SlumDOGE Millionaire" (@ProTheDoge) said that almost a third of US Cryptocurrency users also own Dogecoin.
Here, Musk replied his testament to backup the user, the screenshot of the article, and Dogecoin and went as far as saying that the coin is the "People's Crypto." This means that Dogecoin is widely considered as the cryptocurrency which most people can buy or earn, as it remains an affordable coin compared to the others in the industry.
Musk said that Dogecoin has made it possible for normal people to own cryptocurrency, especially as he has talked about first-hand accounts of these people from Tesla's production lines and SpaceX's rocket labs. The CEO also said that these people are not massive names or personalities like those in Silicon Valley or financial experts, but they invest in the coin.
Lots of people I talked to on the production lines at Tesla or building rockets at SpaceX own Doge. They aren’t financial experts or Silicon Valley technologists. That’s why I decided to support Doge – it felt like the people’s crypto.
— Elon Musk (@elonmusk) October 24, 2021
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Dogecoin and Elon Musk
Musk is known for being a long fan of Dogecoin and cryptocurrency, where he takes his opinions on his Twitter page, talking about the meme crypto and discussing its relevance in society. The SEC has been long on Musk's tail, especially his frequent tweets about the coin that helps on its massive growth in the market.
Musk and Doge have a long-standing relationship, and it is mutually beneficial as this coin gets bigger and bigger.
How Much is Dogecoin Now?
Dogecoin remains on the top 10 but has fallen from the third top cryptocurrency of the world down to the ninth spot. According to Coin Market Cap, Doge is now valued at $0.2767, which is a 10 percent rise in the past 24 hours and a 16 percent rise in the past seven days.
Considering that Dogecoin was at an almost $0.45 valuation earlier this year, it still did not lose a lot of its value and ranking among the popularity list of cryptocurrency. Dogecoin remains a stellar figure in the charts, being one of the most affordable cryptocurrencies, worth being called the "People's Crypto."
This article is owned by Tech Times
Written by Isaiah Richard
