Tesla CEO, Elon Musk is back at it with DOGE boosting tweets. Last week, Musk had tweeted about starting a new university in Texas known as the Texas Institute of Technology & Science, or as Musk would call it, ‘TITS’. Following his previous tweet’s thread, he added last night that tuition fees for his university will be accepted in Dogecoin, further announcing that people with a dog will get special discounts. However shockingly, DOGE price has not surged exceptionally, or even enough after Musk’s tweet.
Tuition is in Dogecoin & u get a discount if u have a dog
— Elon Musk (@elonmusk) October 31, 2021
Dogecoin Vs Shiba Inu
According to CoinGape’s last week’s reportage, DOGE price surged approximately 46% upon competing with Shiba Inu, which overtook Musk’s favorite meme coin and is now positioned at No. 9, while DOGE struggles at No. 10. Shiba Inu’s price is consistently rising and currently stands at $0.000069, with a market cap of $37.8 billion. However, Dogecoin has not seen any extraordinary improvement and stays at $0.26, with a market cap of $35.25 billion, at the time of reporting. Nevertheless, Shiba Inu may have to fight Tesla CEO’s social media influence to maintain its position. Musk’s support for the meme currency, Dogecoin on social media has been evident and frequent. Recently, the DOGE community saw a surge after Musk called DOGE “people’s crypto”.
“Lots of people I talked to on the production lines at Tesla or building rockets at SpaceX own Doge. They aren’t financial experts or Silicon Valley technologists. That’s why I decided to support Doge – it felt like the people’s crypto.”, Musk tweeted.
Musk on Dogecoin at the B-Word
Musk has balanced his support for DOGE after getting backlash for his comments on the meme coin, earlier this year, during the B-Word conference. While Musk said that the dogecoin community was “irreverent”, and only complimented their “hilarious memes”, he also mentioned that he likes how DOGE “does not take off too seriously.”. Furthermore, Musk shared, he likes both, “dogs and memes”, henceforth he has added DOGE to his crypto portfolio. However, this raised manifold questions on Musk’s reason to support DOGE, questioning whether he expects genuine growth, or it is just one of his practical jokes that he will not take seriously a decade later.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.