Claim BonusBreaking: Elon Musk Asks “Not To Bet On Crypto And Dogecoin”
“I’m not advising anyone to buy crypto or bet the farm on Dogecoin,” said Tesla and Twitter CEO Elon Musk during a virtual conference hosted by the Wall Street Journal.
Musk also agreed that he remains a fan of Dogecoin meme coin, saying “Dogecoin is my favorite cryptocurrency because it has the best humor and has dogs.” However, he isn’t suggesting that anyone should put their life savings on crypto or Dogecoin.
Elon Musk Warns Investors of Putting All Money in Crypto or Dogecoin
During the Wall Street Journal’s CEO Council Summit in London, Elon Musk shared a rare piece of advice for investors to avoid putting all their money on crypto or Dogecoin. Elon Musk advising crypto enthusiasts and Dogecoin fans is slightly in contrast to his recent stance on crypto and Dogecoin.
Elon Musk just gave his current views on crypto on an interview with WSJ
“Dogecoin is my favorite because it has the best humor and it has dogs” pic.twitter.com/QYDYbf0Yjo
— Sir Doge of the Coin ⚔️ (@dogeofficialceo) May 23, 2023
Elon Musk hinted at integrating Dogecoin for payments on Twitter and even accepting DOGE as payment for the Twitter Blue subscription. Dogecoin created as a joke now has a market capitalization of $10 billion, entering the top 10 cryptocurrencies.
He even changed the iconic Twitter logo from “blue bird” to Dogecoin logo recently to show his support for the meme coin. However, Musk’s massive support for Dogecoin caused a $258 billion racketeering lawsuit accusing him Musk of running a pyramid scheme. In April, he urged the court to dismiss the lawsuit.
In May, he appointed Linda Yaccarino as the new Twitter CEO, who is believed to be also a supporter of Dogecoin, as well as Shiba Inu.
Also Read: US Fed Officials Favor To Hike Rates Over 6%, Is Bitcoin Crash Imminent?
DOGE Price Trading Sideways
DOGE continues to trade above the $0.70 level, with risks of falling below the support level amid uncertainty in the crypto market. The trading volume has also decreased, indicating a decline in interest among traders.
DOGE price fell 3% after Musk said not to invest in Dogecoin, with the price currently trading at $0.071. The 24-hour low and high are $0.0713 and $0.0735, respectively. Bitcoin price also fell over 2% at the same time, with the price currently trading at $26,760.
Also Read: Stocks And Crypto May Crash Within Weeks Of Debt-Ceiling Deal; Here’s Why
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- White House Proposes Stablecoin Rewards Compromise as CLARITY Act Odds Drop to 44%
- Trump’s Board Of Peace Eyes Dollar-Backed Stablecoin For Gaza Rebuild
- Trump’s World Liberty Financial Flags ‘Coordinated Attack’ as USD1 Stablecoin Briefly Depegs
- Trump Tariffs: U.S. Threatens Higher Tariffs After Supreme Court Ruling, BTC Price Falls
- Fed’s Chris Waller Says Support For March Rate Cut Will Depend On Jobs Report
- COIN Stock Risks Crashing to $100 as Odds of US Striking Iran Jump
- MSTR Stock Price Predictions As Michael Saylor’s Strategy Makes 100th BTC Purchase
- Top 3 Meme Coins Price Prediction As BTC Crashes Below $67k
- Top 4 Reasons Why Bitcoin Price Will Crash to $60k This Week
- COIN Stock Price Prediction: Will Coinbase Crash or Rally in Feb 2026?
- Shiba Inu Price Feb 2026: Will SHIB Rise Soon?
