Elon Musk wants dogecoin moguls to share their wealth.<\/p>\n
The billionaire Tesla CEO urged dogecoins largest owners to sell most of their holdings as he expressed concern about a small number of people hoarding too much of the cult cryptocurrency.<\/p>\n
If major Dogecoin holders sell most of their coins, it will get my full support, Musk said on Twitter Sunday evening. Too much concentration is the only real issue [in my opinion].<\/p>\n
I will literally pay actual $ if they just void their accounts, he added in an early Monday post.<\/p>\n
Musks first tweet appeared to spark yet another wild movement in the price of dogecoin, a meme-inspired digital currency that was started as a joke.<\/p>\n
The price initially jumped in the minutes after Musks tweet but went on to fall as low as about 4.8 cents late Sunday, marking a roughly 45 percent drop from the all-time high of 8.7 cents that it reached last week, according to CoinDesk data.<\/p>\n
The coin pared the losses Monday morning to trade at roughly 5.8 cents apiece as of 7:18 a.m., down 6.5 percent from a day earlier, with a market value of about $7.5 billion.<\/p>\n
Musks latest Twitter musings about dogecoin named for an internet meme that features a Shiba Inu dog suggested that hes sincerely invested in the coin despite his frequent jokes about it.<\/p>\n
When another Twitter user posited that Musks effort to push big holders to sell was a sign that he legitimately sees Dogecoins potential as being the leading currency of the internet, Musk replied, Absolutely.<\/p>\n
But the coin has nevertheless fallen from the all-time peak it hit on Feb. 7 as celebrities such as Snoop Dogg and Gene Simmons joined Musk in hyping it up. <\/p>\n
Musk also claimed last week that he had bought some dogecoin for his infant son, X A-Xii, two days after Tesla revealed that it had invested $1.5 billion of its corporate cash in bitcoin.<\/p>\n
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Originally posted here:<\/p>\n
Elon Musk wants top cryptocurrency Dogecoin holders to sell<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Elon Musk wants dogecoin moguls to share their wealth. Continue reading