Elon Musk says Dogecoin is my sort of favorite cryptocurrency

The Tesla CEO once again openly supported the popular meme coin Doge & said that this meme coin is still his favorite cryptocurrency.

Elon Musk is a popular top 10 richest person in the world. Musk is known in the world mainly for his tech companies e.g. Tesla, space rocket company SpaceX, biotech firm Neuralink, and giant social media platform Twitter. Since 2020, Musk supports Dogecoin along with Bitcoin & Ethereum. 

On 24 May 2023, Elon Musk appeared in an interview with Wall Street Journal (WSJ). In the interview, Musk explained why Dogecoin is his favorite rite cryptocurrency.

According to Musk, Dogecoin has the best humor & it has a dog, which makes it much better for him.

“Dogecoin is my sort of favorite cryptocurrency because it has the best humor and has dogs,” Musk said.

Further Musk said that it will be highly entertaining to see Dogecoin as a global payment Cryptocurrency, which was created as a parody of Bitcoin.

Twitter’s Dogecoin logo

In April of this year, Tesla’s CEO replaced Twitter’s bird logo with the Dogecoin logo for a couple of days. Because of that momentary decision, the Dogecoin price surged by nearly 30%. 

At the present time, Musk is facing a $258 billion lawsuit, filed by a group of Dogecoin investors. Through the lawsuit, the plaintiff claimed that Musk promoted Dogecoin was unethical & he promoted this Cryptocurrency for his benefit, which resulted in a very big loss for huge numbers of people.

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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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