Elon Musk made statements on the agenda on Twitter. Talking about inflation and cryptocurrencies, Musk gave Dogecoin a short-term uptrend. Dogecoin, which gained around 10 percent in a few minutes, could not sustain this rise.
Elon Musk, who managed to be on the agenda with every statement he made, was on Twitter again in the past hours. Elon Musk, who made evaluations on the agenda and gave some ideas about inflation, made the crypto currency Dogecoin, which he has been a long-time advocate, pumped (Sudden and sharp rise) once again. However, this rise was short lived.
The USA is struggling with the highest inflation since the 80s. Elon Musk also touched on exactly this point. Explaining what can be done in this process according to his own opinion, Musk also made evaluations about the crypto money markets. Let’s take a look at Elon Musk’s statements together.
“I will not sell cryptocurrencies”
“As a general principle, in times of high inflation it is better to have physical assets, ie things like houses or stocks, rather than dollars. I own Bitcoin, Ethereum, Dogecoin and I will not sell them,” he said on Twitter. said Elon Musk, with this statement, he increased the price of Dogecoin by around 10 percent. When we do not ignore that the crypto money markets have been moving on a horizontal path recently, we can say that this rise is important for the investor.
Dogecoin’s price chart
Dogecoin price was trading at $0.111 until the statements made by Elon Musk. Dogecoin, which started to rise quite sharply with the arrival of the statement, rose to the levels of $ 0.119 in just a few minutes. Unfortunately, this rise was not permanent. Dogecoin is trading at $0.114 as of 11:00 am this article was written.
In his statements on Twitter, Elon Musk also made some inflation assessments over SpaceX and Tesla. In the statements made by Musk, it was stated that SpaceX and Tesla are under high inflation pressure in terms of raw materials and logistics.
This content cannot be considered as investment advice.