Disclaimer: I am not a financial advisor; the content in this video is made only for entertainment purposes.
The main appeal behind Dogecoin to Elon Musk is because it could be the people’s currency and could potentially be the cryptocurrency of the world due to its very low price. However, if the whales that are in Dogecoin continue to play monopoly and manipulate the price of Dogecoin then this makes Dogecoin lose its appeal and also disregard its potential to be a reliable asset for investors.
There has been a lot of speculation over Dogecoin’s future with recent tweets from Elon Musk. In a recent tweet from Musk; he stated that he is willing to pay off Major Dogecoin holders from inflating and concentrating the price of the coin. This is HUGE news for Dogecoin since Elon Musk is actually willing to SUPPORT this coin only if the major Dogecoin holders stop pumping and dumping into the stock. This is causing Dogecoin to no longer be the people’s currency and is profiting the ultra-rich to stay rich; while the average investor suffers at their cost.
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