Elon Musk Revealed That He Still Holds Dogecoin

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Elon Musk revealed that he still holds Dogecoin

Elon Musk’s Dogecoin holding announcement

In a share on X Space (formerly Twitter) on January 11, Mr. Musk affirmed that Dogecoin is still one of his favorite coins.

This billionaire said:

I still own a lot of Dogecoin and SpaceX owns a lot of Bitcoin.

It seems that Elon Musk has kept his Dogecoin holdings intact since he publicly supported the digital currency, and in addition, he has not disclosed information about his holdings of any other cryptocurrencies.

Chart of Dogecoin after Elon Musk shared

However, unlike previous statements about Dogecoin, DOGE’s price does not seem to be greatly affected by this CEO’s latest statement. After 24 hours from the announcement, DOGE price only increased slightly by 6%, not including the natural growth of the market.

DOGE/USDT frame 1D taken at 10:45 am on January 12, 2024 on Binance

At its peak in 2021, such a statement from Elon Musk could create a Dogecoin price shock. At that time, he was called “Dogefather” and was considered an important factor in the development history of the project.

The billionaire has even shown a particular fondness for Dogecoin, by integrating it as a means of payment for several items at his electric car company Tesla. He also changed X’s blue bird logo to a Shiba dog, the symbol of Dogecoin, but then quickly changed it back.

DOGE still maintains its form

DOGE was created in 2013 with the initial simple purpose of making fun of Bitcoin. After many years, the memecoin project became widely famous thanks to mentions and praise from Elon.

Up to now, DOGE has managed to sustain its momentum and remains one of the largest market-cap cryptocurrencies, prompting even Binance CEO CZ to express discontent due to its longer-than-expected “resilience” compared to initial Dogecoin predictions.

Dogecoin is in the top 10 cryptocurrencies with the largest capitalization. Source: CoinMarketCap

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