So Elon Musk is getting a “typical” day, according to the internet. This hype is typical for this giant tech boy. The billionaire Tesla CEO is no weirder to social media outbursts, but his tweets have been exemplary even by those benchmarks over the last few days. Much of this does not necessitate lengthy reasoning- He changed his profile picture, which could confound anyone inexperienced with the crypto world.
What did Elon musk do this time?
With 58.3 million Twitter followers, Musk updated his profile to a photograph of him that was reflected in Dogecoin’s sunglasses.
Rich guy Elon Musk might not have been able to transition economies, but his behaviour may continue to create a significant boost. The Chief Executive Officer of Tesla and SpaceX has switched his profile into a headshot where DOGE’s sunglasses reflect- and where he looks like a rich dapper guy, which he is.
Impact of posting a ‘simple profile picture ‘
There were no rallies ten times, but Dogecoin’s price saw on Sunday, as a consequence, a 10 per cent jump. The cryptocurrency’s price has since dropped, wiping out half of its gains, and is currently trading at $0.18. The spike took place because Dogecoin co-founder Jackson Palmer returned to Twitter to quote his unhappiness with the cryptographic industry.
A day after he tweeted that his own son “held his doge as a champion” came the change to Musk’s profile picture. Tesla CEO Elon Musk cheerfully admired his son “Lil X,” because he held his dogecoins and never considered selling them. DOGE prices were up 10 per cent per day in this price move.
Musk’s Dogecoin tweets sometimes have astronomical price repercussions. However, after the modification in photography of Musk, the meme cryptocurrency erased the gains it made.
Musk’s use of “Doge’s eyes” to show his support for Dogecoin is most obviously a reference to Bitcoin’s #LaserRayUntil100k fad, in which users add laser eyes to their social media profile images to show their support. Musk was a part of the mania for a short time, along with Michael Saylor of MicroStrategy, who has kept the laser eyeballs alive to this day.
Must Check: Google Issues Warning For 2 Billion Chrome Users
Musk’s profile picture of a Bitcoin anime girl with laser eyes was ushered up last month. However, it has little impact on the price of the largest cryptocurrency. Bitcoiners appear to be more resistant to manipulation than DOGE holders, or the BTC price is insanely high to be pushed as readily as the meme-coin.
Bitcoin and Dogecoin have fallen from their 2021 highs after Tesla’s move to cease BTC trading prompted a significant crypto market drop.
Despite this, Dogecoin is the only top 20 currency to have endured sizable stock prices reasonably quickly, despite a searing referendum of no-confidence from the most impactful software programmers in crypto’s short history.
But Why does Elon love Doge SO MUCH?
Musk seems to have been a vocal supporter of dogecoin and has dropped hints that it will be used as a payment method for Tesla. While dogecoin has been chastised for being controlled by a small group of whales, it has risen by 7,000% this year. Musk has outlined the income stream as his favourite cryptocurrency but lately warned investors not to put too much money into it. Someone talked about changing dogecoin fees based on moon phases, which is pretty cool, haha- According to Mr billionaire Musk.
Musk has been heard saying he favours dogecoin over other cryptos because Doge has dogs & memes, whereas the others do not- Wow, what a brilliant, financially acclaimed preference.