Elon Musk, who made a statement on the possibility of “fully supporting” the Dogecoin (DOGE) currency, asked those who had a large amount of DOGE to sell.
In a message he shared on Twitter on February 15, Musk said that “investors with large amounts of Dogecoin can give full support to the crypto currency if they sell.”
If major Dogecoin holders sell most of their coins, it will get my full support. Too much concentration is the only real issue imo.
— Elon Musk (@elonmusk) February 14, 2021
Elon Musk is usually behind the recent sudden movements in Dogecoin price. The billionaire, the founder of SpaceX and Tesla companies, regularly makes statements about the crypto currency DOGE, which was born as an internet joke.
As has been reported by Cointelegraph many times, whenever Elon Musk tweets about Dogecoin, significant price movements are observed. Only the word “Doge” on the official Twitter account on February 4 by sharinghad enabled the cryptocurrency to reach peak levels.
After the rapid rise, Elon Musk received many thank-you messages, and he responded with the following tweet.
ur welcome pic.twitter.com/e2KF57KLxb
— Elon Musk (@elonmusk) February 4, 2021
Tesla CEO also announced on February 10 that he had purchased Dogecoin for his 9-month-old son X Æ A-Xii, which he referred to as “baby HODler (spooler)”.
He wanted the whales to sell DOGE
Describing the Dogecoin currency as “the money of the people”, Musk argued that those who hold large amounts of DOGE should make sales for this view to come true.
Elon Musk said that if the whales sell, “he will support the DOGE currency.” Musk pointed out that the biggest problem in the Dogecoin ecosystem is the accumulation of currency in major wallets due to whales. He hinted that he could provide support in the event that large investors sell and “spread the Dogecoin currency widely”.
The messages of the billionaire name who likes to use social media are wrongly found by some circles. As reported, the US Securities and Exchange Commission (SEC) warned that Elon Musk may be investigated for his statements about cryptocurrencies.