Tesla CEO Elon Musk is back with tweets advertising DOGE. Last week, Musk tweeted that he would establish a new university in Texas known as the Texas Institute of Technology & Science, or ‘TITS’ as Musk calls it. After his previous tweet, tuition fees for his university last night dogecoinannounced that it will be accepted in . But shockingly, the DOGE price didn’t rise enough after Musk’s tweet.
Tuition is in Dogecoin & u get a discount if u have a dog
— Elon Musk (@elonmusk) October 31, 2021
Dogecoin vs Shiba Inu
Currently ranked 9th shiba inu It outstripped Musk’s favorite meme in major competition and has gained over 80% compared to last week. DOGE is struggling in 10th place. The price of the Shiba Inu is constantly rising and currently stands at $0.000069 with a market cap of $37.8 billion. However, Dogecoin has not seen any phenomenal development and at the time of writing it stands at $0.26 with a market cap of $35.25 billion. Still, the Shiba Inu may have to battle the Tesla CEO’s social media influence to maintain its position. Musk’s support for the meme coin Dogecoin is clear and frequent on social media. Recently, the DOGE community has seen a surge after Musk called DOGE the “people’s crypto”.
Elon Musk and Dogecoin
Musk leveled his support for DOGE after receiving backlash for his comments about meme money during the B-Word conference earlier this year. While Musk said the Dogecoin community was “disrespectful” and only praised their “funny memes”, he also stated that he liked that DOGE was “not taken too seriously.” Additionally, Musk shared that he loves both “dogs and memes” and added DOGE to his crypto portfolio. But these have raised several questions about Musk’s reasoning for supporting DOGE, whether he expects real growth or whether it’s just one of his practical jokes that he won’t take seriously in a decade.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.