Approximately one month and a half after expressing doubts about Bitcoin, Elon Musk, the CEO of SpaceX and Tesla, is once more showing his support for the well-known meme coin Dogecoin (DOGE).
Musk, an avid supporter of DOGE, made his latest endorsement for the digital currency on March 3 in a tweet that began as a shoob meme with the caption “Dogs rock.” His following post demonstrated that he was actually referring to Dogecoin when he declared that it has “the best coin.”
Musk has expressed enthusiasm for Dogecoin so far
In the past, Elon Musk has made it clear that he has a favorable opinion of Dogecoin. Back in April 2019, he tweeted that DOGE could be his favorite cryptocurrency and even called it “pretty cool.”
Musk is well-known for teaming up with Jackson Palmer, the originator of Dogecoin, to battle against crypto fraudsters on Twitter. He was even chosen on Twitter to be the “CEO” of Dogecoin, beating out other contenders such as Vitalik Buterin from Ethereum and Charlie Lee who founded Litecoin.
Dogecoin, which used to be among the top 25 most valuable cryptocurrencies based on market capitalization, has currently gone down to become the 32nd biggest cryptocurrency, according to Coin360. In the last 24 hours, it has appreciated by approximately 2%, and is currently trading at $0.002.
