It must have taken Elon Musk a lot of courage and dedication to supporting Dogecoin even still when the cryptocurrency is almost out of the top 10 list. Despite all that, Musk continues to support Dogecoin through every thick and thin, as is evident from the past where Elon Musk tried to boost the price of Dogecoin all the way to $1 but failed in doing so. Dogecoin has enjoyed support from the likes of Elon Musk and Mark Cuban as Mark went on to make Dogecoin an acceptable payment option for his NBA team.
Elon Musk, on the other hand, has offered his consistent and undying support to the development team and has also offered from time to time money and resources, which would help them to develop Dogecoin further and make its blockchain the most efficient and secure one there is. Musk has announced that he will be tweeting the new picture for his adorable dog, which has arrived in early September. He calls it Floki Inu and considers it a copycat of Dogecoin; this will be done to influence the market into liking Dogecoin and ultimately increasing its price.
Elon Musk’s Strong Support For Dogecoin
The very motive of Elon Musk behind all this is to get traction for Dogecoin and making its price soar as it did the last time when Elon pulled a similar stunt. Musk recently came on record to issue a statement about the prosperity and longevity of the crypto industry. According to him, the idea of decentralization is here to stay with us and can’t be destroyed no matter how severely someone tries to do wrong about it as China is doing at the moment, issuing the most severe crackdown against cryptocurrencies. No matter how hard China tries to undermine the position of cryptocurrency, it can’t do anything about it, but Musk admits to the fact that these governments and states are able to slow down the role of the crypto sector by imposing such a negative stance against the idea of decentralization. As for Musk, no one knows why he is still offering his support to Dogecoin when it is definitely a tale of the past, but who knows if Musk would be able to revive the coin in the future or not but his tries and his worry seems genuine towards Dogecoin.