Elon Musk breaks his crypto hiatus by supporting Dogecoin’s fun nature

In a new interview with the Wall Street Journal, Tesla CEO Elon Musk said he was “considering” making his own cryptocurrency, and that he had already spoken with Dogecoin creator Jackson Palmer and crypto advocate Ryan Kennedy about the idea.

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Remember when Elon Musk bought Dogecoin and used his Twitter account to announce that he was “Dogecoin shibe”? Yeah, well, not only did he almost immediately reverse course and abandon the cryptocurrency, he also started an internet war with the coin’s founder, Jackson Palmer.

Legendary Tesla & SpaceX CEO Elon Musk is known for his erratic behavior. He once backed a mug that could take 10x photos and then went on to tweet that he wanted the mug back. Then he sued a man who took a selfie with him in a jacket that Musk liked. Just a few days ago, he endorsed a cryptocurrency called Dogecoin and followed that up with a tweet about how Dogecoin is great and fun.. Read more about elon musk dogecoin price and let us know what you think.

Cryptocurrency bad boy Elon Musk has been quiet about cryptocurrencies in recent weeks. Until he had a relapse today and responded to a tweet from Dogecoin co-founder Billy Marcus.

Dogecoin is best used as a funny

Marcus tweeted that the Dogecoin story should remain funny, adding that seriousness ruins its charm.

IMO, $DOGE is best when it’s funny. Wishing that the economy of the future world/universe consists of ironic satirical money memes is a fun story to support. When people get too serious or argumentative, it ruins the charm for me. Keep $DOGE funny and absurd, he said.

He also retweeted a post he made on Reddit in 2014 called Keep Dogecoin Absurb that said the same thing. Marcus explained that the appeal of Dogecoin lies in its fun and parody of the ridiculousness of crypto-currencies.

Musk responded to Marcus’ post in the most succinct way possible by simply clicking on the emoji of a beer glass.

🍻

– Elon Musk (@elonmusk) June 25, 2021

At the time of the reaction, the price of Dogecoin initially jumped to $0.28. Later in the day, however, DOGE lost all of its gains and fell even further to $0.25.

Although there was some sort of pullback around midday GMT, the current candle on the hourly chart is forming a reverse hammer at the time of writing, indicating a possible upside reversal.

Image: DOGE/USD via TradingView.

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Open ports

When Musk returned to publishing cryptocurrencies, he began trolling Twitter and Square CEO Jack Dorsey.

Dorsey has been promoting The B Word, an initiative to dispel myths and misconceptions about bitcoin among the general public.

According to its website, the organization focuses on institutional implementation and awareness of network problems to solve them.

In response to the tweet, Musk tried to figure out what the letter B meant and replied: Bikurious?

Dorsey offered to discuss Musk at the upcoming B-Word event and rather deftly rebutted Musk’s trolling by suggesting that he explore his personal curiosities.

Strange!

Let’s discuss it at the event. You can share all your curiosities….

As if that wasn’t enough, Mr. Musk let his tongue do the talking when he tweeted about Flocky. As it should be, his tweet is open to many interpretations.

My Shiba Inu will be called Floki.

– Elon Musk (@elonmusk) June 25, 2021

Some saw this as a signal to buy Shiba Inu Token ($SHIB). The price rose sharply by 25% to $0.00000850 at its peak. However, the liquidation later restored normalcy.

Floki, also launched today, is a BEP-20 sh*tcoin running on the Binance smart chain. Flocky seems to be another dog-inspired coin meme.

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In his latest tweet, Elon Musk has shown his support for Dogecoin. The cryptocurrency enthusiast has been known to drop by the dogecoin subreddit on occasion, even posting his own dogecoin to celebrate the community. He then took things a step further, sending a Dogecoin donation to a charity that Dogecoin founder Jackson Palmer was planning to fund.. Read more about elon musk cryptocurrency and let us know what you think.

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