Tesla’s Elon Musk has been making constant news in the crypto-verse. However, his latest move has put the tech billionaire in the bad books of Bitcoin [BTC] traders. Bitcoin’s drastic price drop or angry tweets didn’t seem to have made a difference to Musk as he went on to reveal his bias towards Dogecoin [DOG] in his latest tweet.
Working with Doge devs to improve system transaction efficiency. Potentially promising.
— Elon Musk (@elonmusk) May 13, 2021
Furthermore, Musk’s comment section was flooded with hate comments. Several went on to call the billionaire out for “market manipulation.”
Just yesterday, Musk went on to remove support for BTC, which pushed the king coin’s price down to a low of $48K. This enraged many members of the crypto community and forced prominent members like Binance’s CZ as well as Blockstream’s Samson Mow to comment on the entire ordeal. Commenting on Musk’s latest tweet, Mow said,
Elon Musk’s favorite coin could soon find a place at Coinbase
Despite starting out as a meme coin, DOGE garnered the support of Elon Musk as well as GenZ which further bolstered the price of the coin. Its price, however, has been extremely volatile. While several assumed that Elon Musk’s Saturday Night Live debut would push the coin’s price to $1, the asset went on to fall both in terms of market cap as well as price. This doesn’t seem to be a problem to prominent cryptocurrency exchanges like Coinbase.
The exchange recently revealed that it would onboard Dogecoin in the next six to eight weeks. While Coinbase listings have highly influenced the prices of cryptocurrencies, the addition of DOGE could be highly beneficial for the meme coin.
As Bitcoin continues to drop, DOGE was seen surging by over 23% in the last 24-hours. While $1 was still far off for the coin, it was trading for $0.054, during the time of writing. The altcoin also grew in terms of ranking as it surpassed Cardano [ADA], Tether [USDT] as well as XRP in market cap.
