Elon Musk, the world’s second-richest man, is famous for his controversial role in the cryptocurrency trade market for being a trendsetter, often making the trade values go haywire with his row of tweets. Musk is a supporter of these new-age digital currencies and owns a lot of crypto tokens himself. He is often associated with the trade market because his recent tweets in favor of accepting Bitcoins as a means of payment for Tesla cars made the Bitcoin trade value rise to its highest at about $64000. After the short-lived hype, the values came down to a record low as Elon tweeted against the decision of accepting these cryptocurrencies as means of payment shortly after due to various environmental reasons and the increased energy consumption in the mining processes.
Apart from his interest in these bigger tokens, Elon is also known for his keen interest in the new meme cryptocurrency Dogecoin, which was introduced to the trade market as a joke that escalated too far. Elon Musk, in a series of tweets and live telecasts, praised the relatively new cryptocurrency, which led to a rise in popularity of the cryptocurrency and, therefore, a record growth in the trade values.
Nasdaq-listed companies have now started accepting inbound transfers to Coinbase Pro, listing the cryptocurrency with the bigger digital currencies in the market. The popularity of Dogecoin grew stronger as more and more traders joined in the trade were looking for a cheaper alternative to Bitcoin, as it is very expensive for the lower-tier investors and traders. Posing as a cheaper alternative to Bitcoin, Dogecoin operates on the Ethereum platform with much more efficient power consumption and involves lesser trading costs. Since Elon tweeted a picture of a Shiba Inu dog earlier today sitting in front of a desktop computer, netizens and traders worldwide are trying to figure out the meaning of the recent meme. The prior tweet by him was diamond hands, which had sparked a conversation on his decision to sell or trade the $1.5 billion stake of Bitcoin. The recent tweet by the Billionaire has everyone looking for answers, as yet another rise in value for the meme cryptocurrency has been recorded since the post earlier today. Although it was supposedly a joke, sharing a picture of Shiba Inu has the traders and investors in utter disbelief and has forced them to give serious thought to investing in the digital currency as the prices continue to increase with the row of tweets by the billionaire.