Billionaire Elon Musk mentioned on Sunday that an excessive amount of focus of Dogecoin amongst its main holders is the one “actual problem,” and he would help them in the event that they promote their cash.
“If main Dogecoin holders promote most of their cash, it would get my full help,” Musk said in a tweet. “An excessive amount of focus is the one actual problem imo (in my view).”
“I’ll actually pay precise $ if they only void their accounts,” he later added.
Musk’s tweeting spree has concerned a number of posts about Dogecoin. He mentioned final week he purchased a few of it for his 9-month-old son, prompting a 16% surge in its worth. “Purchased some Dogecoin for lil X, so he generally is a toddler hodler,” Musk tweeted, referring to the slang time period “hodl” which is acknowledged within the crypto neighborhood as holding reasonably than promoting.
Dogecoin fell 14% to five.5 cents on Monday, though it has seen a number of highs this 12 months sparked by Musk’s tweets on the cryptocurrency. The meme-based token rose to an all-time excessive of 8.4 cents final week, up from about 1 cent at the beginning of 2021. It is now the Thirteenth-largest cryptocurrency with a market cap of about $7 billion, in response to information from Coin Gecko.