Musk: "Don't invest in Meme coins? Please! This is something you brought up yourself!
On March 1, Elon Musk warned investors on Joe Rogan's podcast: "Don't put your life savings into Meme coins, the risk is too high!" As soon as this was said, the market immediately went into a frenzy.
After all, the representative of Meme coins—Dogecoin (DOGE)—was brought to popularity by him. Back then, his statement "Dogecoin is the people's cryptocurrency" caused DOGE to skyrocket from a few cents to $0.73.
Then during the SNL show, he suddenly mocked it by saying "it's a scam," and DOGE plummeted immediately. Now he's pretending to be rational?
Musk and Doge: The most dramatic "abusive relationship" In 2021, while shouting "DOGE TO THE MOON," Musk pushed Tesla to accept Dogecoin as payment. Investors were thrilled, but now DOGE is still hovering around $0.2, having dropped 70% from its peak. Now he's starting to teach people how to invest?
Now, he suddenly advises everyone not to invest in Meme coins, isn't that like a gambler turning around and telling others: "Don't gamble, the risk is too high"? Weren't you the one who charged ahead back then? Are you now afraid of regulatory scrutiny, or are you just tired of the game?
The fate of Dogecoin: Is being tied to Musk good or bad? The reality is that Dogecoin has long lost the fervor of its heyday, and even Musk himself is too lazy to mention it anymore. But every time DOGE crashes, there are always some who fantasize that "Musk will save Doge again."
The problem is, Musk has offended too many people recently, and the possibility of even being assassinated is not zero. If DOGE's correlation with him weakens a bit, it might not be a bad thing; at least it wouldn't soar or plummet due to his every whim. Perhaps, this is the real beginning of Dogecoin's independence.
