Elon Musk has made new tweet about Doge again as always. It has been seen for some time now that Elon Musk is benefiting himself by increasing the price of Doge through new tweets. He tweeted asking if Dogecoin will be used to buy Tesla. But after his tweet, Doge price is going down, which means people are understanding his purpose. You can see his tweet from here:
https://twitter.com/elonmusk/status/1392030108274159619?s=19I think its good if tesla accept doge, but i still think it would be bad if elon make tesla accept doge just to make pump dump scheme which make so many people in loss cause following his tweet. Its good to see crypto to be use as a currency. But i do think we need a proper regulations and need more protection so doge could act as a storing value to avoid money laundry and folatility that could change the value of something you purchase.
but unfortunately it is difficult to apply the rules for it. where price formation comes from supply and demand, and we are free to do it, this is a business, and perhaps people can do it easily as long as they have money and influence over their followers. therefore we personally have to be careful and take into account the risks and rewards every time we take action, because Elon himself is a lot of people who think that they are not really in the development of cryptocurrencies