People might have speculated that The Dogefather might have betrayed Dogecoin on May 8 SNL’s but clearly, he hasn’t. Replying to a follower’s assertion on Twitter that Elon Musk wouldn’t probably sell his Doge as he is the ultimate holder he said that he hasn’t and won’t sell any Doge.
Yeah, I haven’t & won’t sell any Doge
— Elon Musk (@elonmusk) May 20, 2021
Earlier this month at Saturday Night Event on May 8, Elon had called Dogecoin a ‘hustle’ after a fellow announcer asked if it was a hustle to which he replied in the affirmative. Before the event, the cryptocurrency had been rallying to a high of $0.73. It fell sharply after his comments.
On the show when May Musk asked him if her gift on mother’s day was Dogecoin he said, “It sure is” with a beaming smile. The damage to Dogecpin’s price was done by the ‘hustle’ comment. He received a massive backlash in the market especially from people who were expecting the price to rise further after the SNL event.
Elon Musk has been at the centre of many controversies in the market. Last week he had announced that Tesla would no longer accept any Bitcoin payment because of environmental concerns. Later Bitcoin crashed with many other cryptocurrencies like Ethereum losing a major chunk of their market capitalization.
His latest tweet pledging loyalty to Doge might win the confidence of the followers of Dogecoin again.
