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Thursday, Nov 25, 2021
Outlook.com
Outlook.com

Tesla CEO Elon Musk's One-word 'Advice' For Dogecoin Crypto Token Owners

Elon Musk who has supported Dogecoin on multiple occasions through Twitter, recently an advice to coin holders. He even expressed his anger over the cryptocurrency exchange limiting withdrawals for Dogecoin.

Tesla CEO Elon Musk's One-word 'Advice' For Dogecoin Crypto Token Owners
Tesla CEO Elon Musk's One-word 'Advice' For Dogecoin Crypto Token Owners
outlookindia.com
2021-11-25T19:48:04+05:30

SpaceX and Tesla CEO Elon Musk tweeted in support of Bill Lee, the founding partner at West Coast Holdings and an investor in his companies on November 24. Lee tweeted that till the time the wallet keys are not in a user’s possession, they should not consider the holdings as 'their own'.  

Bill Lee re-tweeted MyDoge CTO tweet "The core focus of the @MyDogeOfficial vision is to break the dependence on CEXs like binance and robinhood and let #shibes take custody of their own coins!” with the quote, "not your keys, not your crypto". To this Lee's Musk responded, “Exactly." 

On November 23 Elon Musk expressed his anger through Twitter to Binance Coin CEO Changpeng Zhao, over the cryptocurrency exchange limiting withdrawals for Dogecoin.  

He tweeted, “Hey @cz_binance, what’s going on with your Doge customers? Sounds shady." 

Binance responded that they are reconstructing their dogecoin wallet completely, resulting in a delay in withdrawals and it may continue for another week. 

Recently, to launch the Doge-1 satellite into space, Tesla has partnered with Unizen (a smart crypto exchange ecosystem) and Geometric Energy Consumption (GEC) to fund this mission through Dogecoins. 

Musk claimed in March 2021 that he had never sold cryptocurrency stored in his portfolio, reported Reuters. Moreover, on multiple occasions, he urged Dogecoin owners to hold their coins, as the Tesla CEO expects Dogecoin’s value to shoot up “to the moon." 

Dogecoin (DOGE) is trading at coin price of $0.222139 with a 24-hour trading volume of $1,402,069,163. It has grown by 1.68 per cent in the last 24 hours. DOGE's total market cap at present is $29,474,792,873, according to coinmarketcap.com. 

Dogecoin (DOGE) is based on the popular "Doge" Internet meme and features a Shiba Inu on its logo. It is one of the popular meme coins. 

Meme coins are those cryptocurrencies that are inspired by popular social media jokes, sarcasm, or puns. According to Coinmarketcap, at present, there are about 124 meme coins.  

Recently, there has been a lot of controversy related to cryptocurrency as India is planning to come up with some regulations in upcoming winter session which will begin on November 29.  

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