DOGE soared incessantly as Tesla founder Elon Musk. However, because the individual is also DOGE can shrink badly because of his tweet earlier this morning.
According to the millionaire, whales were the only problem he faced when he pushed the price of the shiba inu currency soaring, beyond the expectations of most crypto investors.
Following that, Musk urged the big owners of Dogecoin to liquidate their holdings and make the cryptocurrency more democratic:
If major Dogecoin holders sell most of their coins, it will get my full support. Too much concentration is the only real issue imo.
- Elon Musk (@elonmusk) February 14, 2021
"If the big owners of Dogecoin sell most of the DOGE, they will get full support from me. In my opinion, too much attention is a real problem. ”
After the tweet was uploaded, DOGE prices declined by more than 20%.
At the same time, recently Dogecoin co-founder Billy Markus posted an open letter regarding the value of DOGE on the Reddit site r / dogecoin.
He explained: “A lot of people are talking about Dogecoin which will reach $ 1 - making its market capitalization bigger than most service companies like Boeing, Starbucks, American Express, IBM. Is Dogecoin eligible for that? That is not something I should understand, let alone answer. ”
Interestingly, Markus himself does not own any holdings in Dogecoin.
In 2015, the individual sold all his DOGEs after being laid off to buy a used Honda Civic.
At the time of writing, DOGE is trading at 0.054, down 15.82% in 24 hours. While its market capitalization is worth over $ 7 billion.
