Tesla CEO and famous billionaire Elon Musk has shared his thoughts on crypto again, tweeting that DOGE is his favorite coin.
So many tweets about crypto reveal Elon Musk is interested in the industry. Here’s what he said earlier in 2019 about DOGE, in a response to an April Fool’s poll that had him voted as a potential DOGE CEO:
We have listened to your concerns. We have decided that Dogecoin does need a CEO. Someone who can lead us into the future while maintaining the core values of what we are.
— Dogecoin (@dogecoin) April 1, 2019
Podcast Talk and Another Tweet on BTC
Musk seems to have a rather interesting attitude when it comes to crypto, seeing he makes comments on the subject sometimes, while when asked to dig deeper into the matter, he prefers to remain silent. He also recently said in a podcast that cryptocurrencies are a possible replacement for cash, yet without seeming to enthusiastic. Before that, he tweeted that Bitcoin (BTC) is not his safeword as a joke. However, the crypto community concluded he may have a special interest in BTC.
DOGE Pulling the TSLA Stunt?
DOGE is not known to aim for rapid appreciation and currently trades at $0.002, which means it occupies the 33th position according to market capitalization. There are over 123 billion DOGE circulating and above 31,000 DOGE transactions every day. The coin has had a stable presence in the crypto space, especially after it has adopted the famous doge meme.
With the stablecoins’ arrival, it was displaced as a base pair coin. More than this, it’s not being used very often for arbitraging trades and moving coins from one exchange to another. While the crypto community was very happy to see Musk endorsing DOGE, it’s still too early to determine if the coin will pull the Tesla (TSLA) stock stunt.
DOGE Daily Trading Volumes at Over $150 Million
Reawakening ever since the beginning of 2020, DOGE had the amazing daily trading volumes of over $150 million this month, which is a record since 2017. Since it hasn’t seen a pump in some time, its volumes are mostly concentrated on the BKEX exchange. It has even signaled an increased altcoin sentiment. While its price is currently low, this can change, especially since there’s the potential for it to very quickly add Satoshis.