Musk wants Dogecoin to become the internet currency
Musk wants Dogecoin to become the internet currency

(Elon Musk) Elon Musk wants major Dogecoin owners to sell most of their coins in order to make advanced cryptocurrencies an internet currency due to the high concentration.

The CEO of SpaceX and Tesla beat the founder of Amazon to become the richest man in the world last month, posting several tweets criticizing the so-called cryptocurrency, which stores large amounts of Dogecoin.

Musk said that these large holders are the only obstacle to Dogecoin becoming a major currency, and the billionaire previously hinted that people's cryptocurrencies could become official currencies on Mars.

He added: If the large Dogecoin holders sell most of their coins, it will get my full support because I think the only real problem is an over concentration and if they cancel the account, I will in fact be in US dollars.

Analysis of digital wallets shows that the owner owns more than a quarter of Dogecoin tokens with a total issuance of 127 billion tokens and with a current price of only over 36 billion Dogecoin worth more than $ 2 billion USD.

Another 19 digital wallets own 25% of all Dogecoin, which means that only 20 people own more than half of the Dogecoin in existence (assuming these wallets are owned by individuals).

Dogecoin supporters wrote in response to Musk's tweet: Whales should heed Musk's alarm even if they stick to it, Dogecoin will become online currency.

“If they don’t distribute the coins to multiple wallets, they will lose Musk’s support, which makes it easier for whales to make decisions and do the right thing,” he added.

Musk's response to this tweet is real, temporary, and long-term growth.

The almost unknown nature of cryptocurrencies means that it is impossible to immediately identify the primary owner, although the creators of Dogecoin are known to have sold off their holdings years ago until humans became one. obsessed.

Dogecoin's recent price rally raised its value from below $ 0.01 at the start of the year to an all-time high of over $ 0.08 last week.

It has since fallen to around $ 0.06, but with a market value of close to $ 8 billion, it still ranks 13th on the list of the world's most valuable cryptocurrencies.

The price was set in part by Musk's comments, and Musk's interest in cryptocurrencies was recently demonstrated by Tesla's $ 1.5 billion investment in cryptocurrencies.

In a question-and-answer session at the club, he said: "The most interesting result is the most likely: the most satisfying and absurd result is that the Dogecoin will become the currency of the Earth in the future."

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