[Coinlive] Will You Keep Supporting Dogecoin (DOGE) like Elon Musk?

By now, we have all (most of us anyway) seen the tweet from Elon Musk on 19 June 2022, “I will keep supporting Dogecoin.”

The world’s richest man first showed his love for this cryptocurrency, which is favoured by Shiba Inus worldwide, when he mentioned it on Twitter in a response to a poll on 2 April 2019, “Dogecoin might be my fav cryptocurrency. It’s pretty cool.” Following this momentum, he has consistently tweeted or made mention of the meme coin to this day, boosting its performance significantly or by a decent margin. At the time of writing, it is still in the green despite pulling back to trade at $0.06207.

To backtrack a bit, Dogecoin was created and introduced on 6 December 2013 as a way to make fun of other cryptocurrencies boasting ambitious plans to take over the world. It is an open-source peer-to-peer digital currency featuring the face of the Shiba Inu, a Japanese breed of dog, as its logo and namesake.

Now, let us come back to the topic at hand. The crypto bear market saw prices plummeting over the past weeks and like many of its crypto counterparts, Dogecoin was at its mercy as well. As such, Elon Musk’s latest show or tweet of support was like a knight in shining armour swooping in on a white horse. What’s more, even a $258 billion 'dogecoin pyramid scheme’ lawsuit from a Dogecoin investor, was not able to deter him from displaying his affection and passion for the meme coin. Despite investors fretting over him pulling back from supporting Dogecoin due to the legal battle, the tweet from Dogecoin’s loyal fanboy, is a reassurance that he is still a faithful believer.

In all honesty and subjectively, if Dogecoin did not have such a staunch supporter all along, would it have faded into the distant past like numerous other cryptocurrencies or would it have risen in ranks to stand at the forefront with Bitcoin (BTC) and the likes? So, like Elon Musk, will you keep supporting it?

Written by: [Coinlive] Catherine