'Dogefather' Elon Musk Comes Out In Support For DOGE Yet Again. Watch What He Said (2024)

FAQs

Does Elon Musk really support Dogecoin? ›

Elon Musk has strongly supported DOGE for several years, dating back to his first tweet about the token in 2019. Since then, Musk has made multiple moves to incorporate DOGE into his various business ventures.

Tesla Inc. CEO Elon Musk has long been a proponent of Dogecoin (DOGE), first posting about the project in 2019, saying, "Dogecoin might be my fav cryptocurrency. It's pretty cool."

While Dogecoin's strongest bulls want this outcome to happen, it's hard to believe that an otherwise worthless digital asset could reach such an astronomical valuation. Investors should stay away from Dogecoin. Hitting the $1 mark is probably never going to happen.

CEO Elon Musk has been a fan of DOGE for some time. He first began discussing the meme coin project in 2019, when he posted on social media “Dogecoin might be my fav cryptocurrency. It's pretty cool.” While this post did not have much impact on DOGE at the time, Musk continued posting about the token.

There are analysts who believe that Dogecoin has massive long-term potential for growth and adoption. CoinMarketCap analysts expect Dogecoin to remain a major player in the cryptocurrency market for years to come and foresee that its price could reach up to $4,423 by 2050.

What cryptocurrency does Tesla accept? Tesla only accepts Dogecoin. Tesla cannot receive or detect any other digital assets. Ensure you are making your purchase with Dogecoin.

Although Dogecoin may continue to experience some price appreciation as speculative fervor builds amid a bull market, it is advisable for investors to be cautious when considering it as a part of their portfolio.

Declining Dogecoin open interest and funding rates

This indicates that traders are either taking a cautious approach due to uncertainty about Dogecoin's future price movements or that the overall interest in trading Dogecoin with high leverage has diminished.

Dogecoin price may reach a maximum of $0.3751 by the end of 2024. With a potential surge, DOGE price may achieve its $1 mark by 2029, with a potential high of $1.19 for the year. The price of Dogecoin today is $ 0.16912812.

Will Dogecoin make millionaires? ›

Holding 10,000 Dogecoin Could Make You A Millionaire, Predicts Crypto Analyst. Since 2021, Dogecoin (DOGE) has consistently been one of the largest cryptocurrencies in the market. The token has attracted tens of billions in investment and is up more than 27,000% since its launch.

Dogecoin price rose to its all-time high of $0.73 on May 8, 2021, a year after the 2020 Bitcoin (BTC) halving. Dogecoin is currently 73% down from its previous all-time high. If this pattern were to repeat, Dogecoin price would reach a new all-time high in April 2025.

While he personally believes in crypto and owns some himself, he also calls it a “Hail Mary.” In a January ask-and-answer session on X, Cuban said that his crypto portfolio includes Bitcoin, Ethereum, Polygon and Injective, and that his NBA team the Dallas Mavericks still accepts Dogecoin as payment.

About ELONGATE

ELONGATE is a BEP-20 token on the Binance Smart Chain, with possible gateways to ERC-20 and other blockchain networks in the works. BEP-20 is a regular currency operating on the Binance smart chain. The goal of ELONGATE is to create a breakthrough social impact network based on blockchain technology.

The most famous and influential person who supported Dogecoin is #Elon_Musk , founder of Tesla, SpaceX and Neuralink.

The simple truth is that as an investment, Dogecoin offers little beyond speculative potential. Its price fluctuations are largely driven by market sentiment, social media hype, and speculative trading activity. It isn't a common payment tool and deliberately didn't copy Bitcoin's anti-inflationary design.

“My favorite cryptocurrency is Dogecoin. Why? Because it was created as a joke, and I appreciate humor in all its forms,” the AI responded.

The primary catalyst behind Dogecoin's recent price pump is the announcement by Coinbase Derivatives, a subsidiary of the leading cryptocurrency exchange Coinbase, to list DOGE futures contracts starting April 1.