Elon Musk, the owner of big companies like X and Tesla, has recently made a controversial statement, in which he mentioned the success of his department Doge in controlling inflation in America. Elon Musk This statement has become a warning for the crypto market. He says that if his department succeeds in controlling Doge inflation, it could lead to a big drop in the prices of Bitcoin, Dogecoin and other major cryptocurrencies.
Elon Musk and his department Doge: What is its impact?
Elon Musk’s statement has created a stir in the cryptocurrency market. Musk’s department Doge is named after Memecoin Dogecoin (Doge) and now it is clear from Musk’s earnestness that he will influence the crypto market with the name of his department. Panic spread in the crypto market after Musk’s statement regarding the fall in the price of Bitcoin and Dogecoin. After which Bitcoin is facing decline, Dogecoin And other major cryptocurrencies faced even more pressure, which has emerged as a warning to investors. Elon Musk’s statements also indicated that the crypto market may see more conflict in the coming days.
Impact after Musk’s statement
It has become clear from Musk’s statement that crypto investors need to be more cautious. However, such statements are nothing new for Elon Musk. He is famous for his controversial statements and Twitter posts, which sometimes cause sudden rise and sometimes fall in the prices of cryptocurrencies.
For example, recently he replaced his X account with the icon and name of this meme in support of Memecoin Kekius Maximus. Due to which there was a sudden jump in the price of Kekius Maximus, but later he changed his profile again, due to which there was a decline in the price of that Memecoin. This makes it clear that Musk’s influence on the crypto market is huge, but after his statements investors need to act more thoughtfully.
Conclusion
Elon Musk’s statement can be a big signal for the crypto market. According to his prediction, if his department succeeds in controlling Doge inflation, the prices of the cryptocurrency may fall. However, looking at Musk’s past statements, investors will have to be cautious, because his statements sometimes lead to bullishness and sometimes to bullishness. In such a situation, crypto investors should take any step thoughtfully, because the decisions and statements of Elon Musk continuously impact the market.
