The entire cryptocurrency market is a disaster right now.
Despite this fall from grace, Musk seems to be fully behind the meme coin. While taking to Twitter, Musk simply wrote “I will keep supporting Dogecoin.” There was a time when Tesla considered taking Dogecoin as payment for its cars, however, that never actually came to fruition.
Now, the cryptocurrency market is in shambles, and the pyramid scheme accusations are more prominent than ever before. While some say it’s simply the market cycle playing out, others believe this could be indicative of a much larger trend.
I will keep supporting Dogecoin
— Elon Musk (@elonmusk) June 19, 2022
Either way, Musk is the richest man on the planet, so what does he care if a bunch of people lost money on the coin he told them to buy?