Will Elon Musk manipulate the crypto market with dogecoin as he has done with bitcoin?

Kingsley

Valued Contributor
To be candid I saw dogecoin as a coin with the great potential, but I feel the co-owner of that particular coin, Elon Musk is just trying to manipulate traders so that in the end he will have absolute control of the coin and the market just like he is doing with bitcoin.

Although the dogecoin has really gained alot of momentum, andit has gained a wide recognition from some many traders in the market as somany investors has the coin in their wallet but the big question mark is still standing somewhere in my mind that when the coin eventually gets to it peak Elon Musk will be double wealthy and decide to dumb the coin just like he is currently treating bitcoin.

What's your view?
 

Kingsley

Valued Contributor
Everything you wrote is going true because right now, dogecoin with the great potential.
Yes it quite obvious that Elon Musk is really working so hard to promote his dogecoin but he forget that the bitcoin is key amongst other coin and it will really take alot of effort to break the bitcoin and make his own coin to stand out. He ought to have promoted his own without manipulating the growth of bitcoin negatively.
 
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btaliat

VIP Contributor
I didn't see Elon Musk do the same with doge coin. People don't take him serious any more because his involvement in crypto market really crashed the market. One would have even thought he would use his ability and fame to promote doge coin but instead he went for bitcoin but later left bitcoin regretting his involvement. So if he tries tat with dogecoin, people would have known his moves and won't let his decision affect them anymore.
 
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Sotherefore

VIP Contributor
This is one of the reasons I do not like to invest in any cryptocurrency that is controlled by a man like Elon musk because there is a high possibility of that cryptocurrency to experience a serious rugpull,he can decide to sell out his portion and the marketing system of the coin will swindle.
 
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Mika

Valued Contributor
Elon Musk has manipulated the price of bitcoin and doge coun a couple of times. When he says something good, the price goes up and when he says something bad, the price goes down. However, crypto currency price is not dependent on some individual, it is the market that determines the actual price.
 
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