A Doge-themed account said Musk ＾appears to be treating #Dogecoin like one of his own companies. He is actively marketing $DOGE, engaging with the community, and using his engineering and leadership prowess to contribute to #DOGE development,￣ concluding that with the billionaire as ＾Doge CEO,￣ they are in good hands.
Taking notice of the post, the self-proclaimed ＾Dogefather￣ replied, ＾Please note Dogecoin has no formal organization & no one reports to me,￣ further clarifying that because of this, his ability to take action is limited.
While the denial has already come from the proverbial horse¨s mouth, it is still hard to believe that the Tesla and SpaceX top honcho doesn¨t have any sort of authority over the 2013 meme cryptocurrency.
Musk must have stopped Tesla from accepting bitcoin as a form of payment, but he did not do the same with SpaceX which is still accepting crypto, particularly dogecoin, as compensation for bringing payloads in space.
When asked to just create his own digital currency that meets his demands especially on being environmentally friendly, he implied he¨ll only consider it if dogecoin can¨t do it. The one-time Saturday Night Live host has been in the thick of things as far as dogecoin is concerned.
Given Musk¨s undeniable influence on the crypto market, pundits, investors, and dogecoin holders are waiting for how this recent development plays out for the meme coin.
At press time, according to CoinGecko, dogecoin is changing hands at just above $0.34 and is still down by more than 28% for the past seven days, sliding to 7th place in terms of market capitalization which now stands at more than $44 billion.
Image courtesy of Cointelegraph News/YouTube
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