Dogecoin has been linked to Elon Musk in the past. It is no secret to anyone that several of his tweets have had a great impact on the fluctuations in the price of Dogecoin. In fact, many have used these tweets as buy or sell signals. Moreover, it would not be an exaggeration to say that Musk’s hands have in the past exerted a significant influence on the volatility of the controversial puppy cryptocurrency. Whether we like it or not Elon Musk is a strong element in the valuation of Dogecoin.
Now, Elon Musk is the new owner of Twitter. What does this mean for Dogecoin? One might assume that now, as the owner and lord of Twitter, Elon Musk will have more influence than ever.. In other words, it will be more powerful. According to our knight errant, he has bought Twitter to “save civilization”. And “money is not important”. The list keeps growing. With Tesla, he wants to save the planet from climate change. With SpaceX, he wants to make humanity an interplanetary species. And so it goes. In other words, we are talking about a selfless and self-sacrificing messiah. The Nazarene, then. It’s not a matter of money. It is not a question of power. It is pure altruism.
Of course you never know what lives in the depths of the heart. What is visible to all are the actions. Elon Musk is an expert in creating and/or acquiring companies. He creates excitement. Raise capital. Increase the market value of the company. And share the process. And the income? Income is a matter of the future. Everything he does is extraordinary. Elon seduces with that myth of the saving genius. Undoubtedly, we are talking about a very intelligent, skilled and creative subject. But we are also talking about a manipulative, volatile, changeable, reckless, clown and ambitious subject.
Between jokes, games, ambiguities and enigmas, Elon does and undoes. In many cases, he says what he shouldn’t. And he does what he shouldn’t. In his habit of underestimating others and overestimating himself, he does a lot of genius, but he also does a lot of stupid things. Elon Musk is a monkey with a blade. Interesting, exceptional, but extremely dangerous. Its dangerousness lies in its ability to inspire fanatical loyalty. Elon says to invest in X and his legion of followers stampede to invest in X.
What could we expect for Dogecoin with this takeover of Twitter by Elon Musk? Anything. Everything is possible. Which could mean more volatility for Dogecoin. It is true that when there is volatility, risks and opportunities arise. However, in the face of so much uncertainty, changes and jokes, it is not the most sensible thing in the world to consider a long-term position. In such conditions, the only thing that can happen is short-term speculation. Quick entries and exits. Taking profit at every opportunity. In many ways, Elon is like the joker. He creates cases for fun. So, today he can say something. And, tomorrow, he can say the opposite. A lot of care and prudence. Risk management, risk management, risk management.
Of course, surely there is a Dogecoin community out there that wants to build a future that does not depend on the moods of Elon Musk. There are also others who trust in the genius of Elon Musk and assume that the genius has big plans for his favorite pet. All these tricks and contradictions are dismissed as eccentricities and trivia of a brilliant mind. In the background, everything must be a theater that is presented to achieve the objectives with style.
With Elon or without Elon? Is the Dogecoin community strong enough to thrive without Elon’s help? Does Dogecoin have a future with a godfather as volatile as Elon? Tesla investors are not very happy with this new toy. SpaceX investors should also have their reservations. They are many things at the same time. And chaos creates more chaos. Our messiah wants to save us from everything. But he wants to save us his way. We know very well, from his style of governance, that Elon Musk is not the most democratic and tolerant individual in the world. It does what he says. And he follows his own rules.
What we have here is a person addicted to self-promotion and publicity stunts. He loves to be celebrated. But he doesn’t really like being questioned. It is already becoming clear that Elon Musk wants to own the future. However, his promises continue to grow. Profitability will always come tomorrow. Income is always something of the future. But meanwhile, the task is to create or acquire companies. Create excitement. Raise capital. Increase the market value of the company. And share the process.
The valuations of all his companies together have made him the richest man in the world. Which of these companies is profitable? How much do your companies generate by revenue? Elon promises. People invest. Meanwhile, valuations are skyrocketing. And the profitability? In the future.
Just three days after Elon Musk bought Twitter, he posted a tweet promoting the baseless allegation that Paul Pelosi, the House Speaker’s husband, who was assaulted at the couple’s home, had been drunk and in a fight with a male prostitute. This tweet should be read in context. The acquisition of Twitter has raised fears that the platform in the hands of Elon Musk will become a space for extremists to spread freely. fakenews, hatespeech and conspiracy theories. This tweet, three days after the controversial acquisition, can give us an idea of the self-proclaimed person as the “savior of civilization”.
What is a pump and dump scheme? It is a form of stock market fraud that uses organized disinformation campaigns to overvalue an asset or to influence the media with the aim of attracting new investors who artificially raise its price. In today’s world, these schemes have become our daily bread with the popularity of platforms like Twitter and forums like Reddit.
Elon Musk has been accused on more than one occasion of participating in schemes of this type. The SEC has already sued him for sending “misleading tweets” that “led to significant market disruption.” Well, that’s the new owner of Twitter. And this is the godfather of Dogecoin. Ladies and gentlemen, fasten your seat belts, because this adventure is now beginning.
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