Tesla and SpaceX CEO Elon Musk tweeted yesterday that he hasn’t and won’t be liquidating any of his Dogecoin (DOGE) holdings.
His latest tweet came after YouTuber Dave Lee suggested that Elon Musk would never sell his Doge holdings since he is the “ultimate hodler”. Musk replied saying, “Yeah, I haven’t & won’t sell any Doge.”
Elon Musk has been a vocal evangelist of cryptocurrencies, helping push the prices of the digital currencies, including bitcoin and Dogecoin higher in the past year. Earlier in the year, Tesla disclosed a $1.5 billion bitcoin purchase, sending the world’s largest cryptocurrency price up.
Musk, however, seems to have reversed course in favor of meme-inspired Dogecoin cryptocurrency. He recently announced that Tesla was discontinuing bitcoin payments owing to environmental concerns. Notably, the price of bitcoin saw a massive drop following Musk’s announcement.
Fortunately, the tech billionaire cushioned the bitcoin meltdown on Wednesday after asserting (in emoji form) that Tesla has diamond hands. This was interpreted to mean that the electric car maker will not be selling its BTC holdings anytime soon.
DOGE To Soon Hit $1?
During his May 10 Saturday Night Live appearance, Musk called Dogecoin a “hustle”. Much to the displeasure of many Dogecoin fans, the price of the cryptocurrency tumbled hard after his SNL performance instead of soaring as whales cashed out.
Earlier on Thursday, Musk had given Dogecoin yet another shoutout. In his tweet, he asked “How much is that Doge in the window?”, attaching an image that references Cyber Viking book series by Marcus Sloss.
These books talk about a combat veteran of the Saud War, Eric Yang, who’s dedicated to saving earth from an alien invasion. Granted Musk crowned himself the Dogefather after referring to the joke crypto as “people’s cryptocurrency”, the most logical assumption is that Musk believes DOGE will save the world without people even realizing it.
The image posted by Elon also includes a laptop with a sticker on it. Interestingly the sticker is a dollar bill, albeit with a Shiba Inu dog instead of President George Washington. As if on cue, DOGE surged from $0.37 to $0.40 in the span of minutes on the heels of Musk’s tweet.
Does this mean Elon sees DOGE hitting the much-coveted one-dollar mark in the near term? Well, if it does, it will be a huge accomplishment for the crypto no doubt. More importantly, it will cement the coin’s viability as a currency for online merchants.
DOGEUSD Chart By TradingView
At press time, Dogecoin is valued at $0.4042 with 20.18% gains on the day, according to CoinMarketCap’s data.