Elon Musk Sparks Cryptocurrency Community Reaction with Tweet

Elon Musk Sparks Cryptocurrency Community Reaction with Tweet

Elon Musk, the founder of Tesla and SpaceX, is in the spotlights of the cryptocurrency community again with a movement that is very close to the cryptoasset space.

A playful tweet is what you expect from Mr. Musk and his choice of meme is particularly interesting. He says “The most entertaining outcome is often the most likely” and this tweet is exciting those who are XRP and Dogecoin enthusiasts.

In his tweet, Musk said “The most entertaining outcome – as if we’re in a soap opera – is the most likely,” a thing that one could connect with his previous Dogecoin-related comments. This tweet is indeed a focal point for Dogecoin holders who are supporters of the coin.

See Also:  Bitcoin Could Fall to $50K in 'Correction Mode,' Says Analyst

This tweet was posted in the aftermath of a week where DOGE prices surged after Elon had made a hint of DOGE payments for Tesla cars, which again resulted in more speculation and interest in the meme-inspired cryptocurrency.

Although Musk’s tweet may have played a role, Dogecoin and XRP have fallen as well in the past 24 hours, with Dogecoin dropping by 11.11 % to $0.1444 and XRP falling by 5.27 % to $0.607, in line with the overall market direction.

Besides, this tweet is an uncanny echo of his earlier comments about the unanticipated success of Dogecoin.

In a Clubhouse group discussion in 2021, Musk said, “Fate loves irony. The most entertaining outcome is often the most likely… Dogecoin becomes the currency of Earth in the future.”

See Also:  Blockchain in Supply Chain Management

Musk’s recent tweet did not refer to or mention a particular cryptocurrency. However, it still triggered discussions between the XRP and DOGE communities.

Most importantly, these discussions remind people how much Musk’s past comments on cryptocurrencies have influenced their course.

Umegbolu Medlyn Chinelo
About Umegbolu Medlyn Chinelo 81 Articles
Umegbolu Medlyn Chinelo transitioned from science to writing. She has over 3 years of experience and has written on various niches. She writes for PanAsiaBiz crafting cricket previews and crypto news. Medlyn thrives on challenges and enjoys learning. In her free time, she relaxes with movies and cooking.