How much Dogecoin (CRYPTO: DOGE) do you think Elon Musk owns?
Here are the full results from this week's survey:
Less than $100,000 worth, just for fun: 5.2%
Around $1,000,000, he's a true believer: 62.3%
Several billions dollars worth, he's one of the whales: 32.5%
In recent news, Tesla Inc
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began to accept and denominate merchandise on its online shop in Dogecoin earlier this month. Items listed in the “lifestyle” section of its shop, such as Giga Texas Belt Buckle, Cyberquad for Kids and the Cyberwhistle were priced in DOGE… Read More
It's no secret Musk's antics related to Dogecoin on Twitter have resulted in massive price fluctuations for the meme crypto. In a week when the broader cryptocurrency market has fallen sharply, it remains to be seen if Musk's tweeting about Dogecoin can sustain further gains in the near term.
At the time of publication, Dogecoin was trading around $0.1381, down 22% in the past week.
Earlier During The Week
Tesla and Spacex CEO Elon Musk has criticized Twitter for using its engineering resources to provide a non-fungible token (NFT) profile picture service. “Twitter is spending engineering resources on this bs while crypto scammers are throwing a spambot block party in every thread,” Musk said.
Elon Musk Criticizes How Twitter Uses Engineering Resources
Tesla CEO Elon Musk criticized Twitter Friday regarding its new non-fungible token (NFT) profile picture service. “This is annoying,” Musk wrote. “Twitter is spending engineering resources on this bs while crypto scammers are throwing a spambot block party in every thread!?”
Twitter launched the NFT profile picture service Thursday to allow users to set up an NFT as their profile picture. NFT profile pictures are displayed with a special hexagon shape. “Right now Twitter only supports static image NFTs (JPEG, PNG) minted on the Ethereum blockchain,” the company clarified.
Musk’s tweet received many comments. Some agreed with the Tesla CEO that Twitter should utilize its resources better, emphasizing the need to crack down on crypto scammers and spambots on the platform.
Adam Singer, a former Google marketing manager, concurred with Musk, tweeting:
Elon is right on this. Twitter’s product team needs better prioritization on what’s actually important for user experience.
He added, “Incidentally, every Elon Tweet comment section is an easy honeypot they could use to nuke a non-trivial amount of spammers/grifters (yet they do nothing).”
However, some counter-attacked Musk for using Tesla’s engineering resources on cryptocurrency, particularly by accepting the meme cryptocurrency dogecoin (DOGE).
“Some people feel the same way about cryptocurrency,” one told Musk. Another wrote, “Tesla is wasting resources in crypto BS too.” A third commented, “Is Tesla promoting Doge isn’t annoying?” A fourth pointed out:
Musk’s electric car company accepted bitcoin early last year but stopped due to environmental concerns. The company began accepting dogecoin payments on Jan. 14 for some merchandise.
Elon [is] getting absolutely donked on for criticizing Twitter spending resources on NFT integration while doing the exact same thing with his company & DOGE.