Elon Musk explains why he backs Dogecoin ElonMusk DOGE DogeArmy DogeFam CryptoCommunity Cryptonews CryptocurrencyNews
Billy Markus, or"Shibetoshi Nakamoto," the Dogecoin co-creator, suggested reasons why he felt Musk was in support of Dogecoin:"You've always been earnest about supporting the coin for what I consider the right reasons—you find it amusing, appreciate the satire and irony, and you think it has potential as a currency—and your companies accept it for merch, giving it more utility.
As previously reported, Elon Musk is facing a $258 billion lawsuit for promoting Dogecoin. However, the centibillionaire seems unwavering in his support for Dogecoin, as seen in his recent tweets.At the time of publication, Dogecoin is up 5.41% at $0.062 but is down 64% so far in 2022. The meme cryptocurrency rose about 9% on Sunday after Musk tweeted that he would keep supporting it and that he was continuing to buy it.
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