It has been a consistent process with Tesla’s CEO Elon Musk and his tweet supporting cryptocurrencies, especially Bitcoin and Dogecoin. Once again, he has gone to Twitter and tweeted about Dogecoin and Tesla’s new supercomputer named Dojo.
Due to this reason, the price of Dogecoin has increased by 7%; it seems that powerful influencers like Elon Musk are directly correspondent with the crypto prices rising as their interest in the decentralized currency increase. In the past, he has shown proper affection for Dogecoin while urging its top holders to let go of their coins while Elon Musk becomes a beneficiary for them if they do.
Correlation Between Dogecoin and Tesla’s supercomputer DOJO
Elon Musk’s tweet was a bit brief where he only mentioned Dojo 4 Doge, not that clear to derive incentive or some meaning from it. DOJO is a supercomputer that is now being incorporated to handle the neural networks’ training at Tesla, and Musk first announced the project in 2019 April. But since that, no recent update has surfaced or hit social media, such as when the computer would be out or become functional neither by Musk nor any of his Tesla’s working staff.
A person on Reddit made a deduction that Dogecoin might be used to power DOJO, which is Tesla’s supercomputer; hence Musk tweeted both together. But no relevance could be found relating to this theory whatsoever. One thing is clear that Musk is a fan of Dogecoin, and this affection is portrayed in many of his tweets about the Dogecoin, and it has once again bumped the price of Dogecoin to almost a 7% increase.
Talks of Meta Fork Embedded in Musk’s Twitter Bio
Musk has made many changes to his Twitter account, and the changing of his profile picture to an anime Bitcoin girl and mentioning Meta fork in his Bio are the obvious ones. Meta forks are the updates made to the decentralized software that controls the transactions and value of cryptocurrencies. For example, Bitcoin has a forked coin known as BCH or bitcoin cash and the same way Ethereum also has a forked coin known as ETC or Ethereum Classic.
Elon Musk has put forward no relevance of any kind nor a justification of any sorts regarding his recent tweets and the change of Bio, but market experts believe that Musk might be paying attention to these forked coins as well from Ethereum and Bitcoin. It is no wonder that the price for both these forked coins also increased in the crypto market after his tweet.