Elon Musk shared a DOGE video on Twitter that he claims explains everything. The video depicts a Shiba Inu dog riding a rocket, allowing it to outperform Bitcoin and other major cryptos in terms of market cap
Elon Musk Posts DOGE Video That Explains Everything
Elon Musk, CEO of Tesla, SpaceX, and a few other high-profile companies, and a big fan of meme cryptocurrency Dogecoin has posted a DOGE meme video.
Brett Winton, Director of Research at Ark Invest, responded to a tweet about Bitcoin miners with this. In terms of mining, the 19 millionth Bitcoin was minted on April 1.
Winton has shared a joke in which a short conversation takes place between someone who understands Bitcoin and Bitcoin mining and someone who is unaware that “miners” are hardware.
The mother is the ignorant one here, i.e. an old-school person who does not understand crypto and is unaware that miners are not only people but also microchips.
Elon Musk responded by posting a video about Dogecoin that he claims “explains everything.” The video depicts a Shiba Inu dog (a DOGE symbol) riding a rocket, allowing it to outperform Bitcoin and other major cryptos in terms of market cap.
DOGE’s price has skyrocketed, and the coin is on its way “to the moon.”
The video also shows microchips used in the Proof-of-Work mining algorithm, which is used for Dogecoin, Bitcoin, Litecoin, and other first-generation coins and their offspring.
Billy Markus, the co-founder of Dogecoin, has joined the conversation, calling this video the “best cryptocurrency video in history.”
A commentator in the thread below Winton’s tweet also expressed his frustration at not being able to explain Bitcoin to his spouse. Another Twitter user in his late 60s admitted that he does not understand Bitcoin but believes he is missing out on something significant.
Brenton responded that Musk’s meme is too far for the person in the root tweet. However, he admitted that his five-year-old son is already urging him to open a Coinbase account.
Musk will not sell his DOGE, ETH, and BTC
Tesla’s CEO tweeted in early March that he still has some Dogecoin and two major cryptocurrencies – Bitcoin and Ethereum. Musk stated that he would not sell his holdings.
The price of Dogecoin immediately responded, rising by 9%, but only for a short time.
Previously, Musk’s tweets had a greater impact on the Dogecoin price, causing it to rise with nearly every mention in the billionaire’s tweet. However, the “Musk effect” on the price of DOGE appears to be wearing off.
