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Does Elon Musk Have A Favourite Cryptocurrency?

Elon Musk, who is active in the crypto circles and is a known advocate and supported of Bitcoins, apparently has a favourite cryptocurrency- The Dogecoin (DOGE). This sudden preference for Dogecoin comes as a welcome surprise and has greatly emboldened the meme-happy community.

The crypto community had been trying to get Musk’s attention with the BTC Lightning Torch, but it seems that the Tesla founder finally took the bait, only with Dogecoin rather than bitcoin. Musk responded to an April Fools’ Dogecoin poll where he had been named among potential CEO candidates alongside heavy blockchain hitters Vitalik Buterin, Charlie Lee, and Marshall Hayner. Musk tweeted:

“Dogecoin might be my fav cryptocurrency. It’s pretty cool.”

Musk ran away with nearly three-quarters of the vote at last check (69%), followed by Hayner, Buterin, and Lee, respectively. With being at the helm of Tesla, SpaceX, and the Boring Company, to name a few, will one more be too much?

Musk’s declaration has also inspired much and very memes from the Dogecoin community.

It seems that Musk couldn’t have picked a better time to join the DOGE bandwagon. After the top-26 coin rallied by double-digits on April Fool’s Day, the mineable cryptocurrency that was created as a joke is up by another 3%.

dogecoin price, elon musk

Source: CoinMarketCap

One of the greatest achievements of Dogecoin has been its decentralized nature It is described as internet currency and has gained rock-star status in the crypto community for its Shiba Inu mascot, Doge.

Jackson Palmer, who is the creator of Dogecoin in 2013, is no longer associated with any  cryptocurrency, let alone DOGE.

Meanwhile, the Dogecoin team ribbed their followers with an April Fools’ joke in which they stated:

“We have listened to your concerns. We have decided that Dogecoin does need a CEO. Someone who can lead us into the future while maintaining the core values of what we are.”

The joke is apparently on everyone who have dismissed Dogecoin, whose pronunciation and purpose are often the subject of ridicule.