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By Prashant Jha
IN BRIEF
Elon Musk, the CEO of Tesla was back on Twitter today with his Dogecoin shilling just a day after market mayhem that saw more than $500 billion wiped out of the crypto market. Musk uploaded a photo of his gaming laptop with a Doge Dollar Bill sticker on top, thus igniting the $1 Dollar Doge meme again.
Dogecoin as usual reacted to Musk’s tweet and regained most of the losses from yesterday, currently trading at $0.4132 up by 22.39% over the past 24 hours. While many questions Musk’s continuous shilling of the meme currency despite himself not holding any and also the fact that it is highly centralized with 4 wallets controlling more than half of the total circulating supply.
Musk is not new to making absurd comments on Twitter and can be seen trolling at times, his recent Twitter scuffle with Bitcoin twitter was one such example and today he was back to what he does best, poke fun at crypto Twitter especially Michael Saylor an avid Bitcoin bull that led to meme fest again.
Musk took a pot shot at Bitcoin again based on a Financial Times article, but Saylor was quick to respond and explain the flaws with the write-up following which Musk shared a meme poking fun at Saylor, but what followed was a flood of meme response from crypto Twitter targeting Musk and Tesla’s carbon subsidies.
The recent sell-off in the market was believed to be triggered by Musk’s threat of potentially selling Tesla’s $1.5 billion Bitcoin purchase after he was called out for fueling the old age environmental issue claims due to high energy consumption by the Bitcoin network. People called out Musk’s hypocrisy for blaming and terminating Bitcoin payment for Tesla cars due to environmental issues yet holding onto their Bitcoin purchase to make profits.
