- He warned investors against investing in this asset
- And while the token “holds a special place” in the billionaire’s heart, it remains extremely volatile
The WSJ board met yesterday, May 23. Among those present was Elon Musk, who unexpectedly warned investors about the risks of investing in Dogecoin.
As he said, traders absolutely should not “rely” on this meme-coin. And although Dogecoin certainly remains his favorite, investing in this asset involves high risks.
The billionaire has repeatedly “pamped” the rate of some assets, including Dogecoin and, for example, the NFT-collection Milady.
In fact, this is the reason for the absurd lawsuit against the head of Tesla in the amount of $258 billion.
By the way, Musk’s lawyers are petitioning to cancel it. Lawyers insist that “joking tweets” cannot be construed as investment advice.
It is possible that Musk’s statement at the WSJ directorate meeting is a direct result of this lawsuit.
Before that, he has repeatedly allowed himself to “play the course” of tokens, for example, when Twitter changed its logo.
Why does Musk like Dogecoin so much, even though the asset is high risk? “Humor and dog character,” is how the billionaire answered.
Some members of the DOGE community are still waiting for Musk to add this meme to Twitter.
Despite this, he still has a lot of influence in the community. “Father of DOGE” has become a real icon for meme-coin fans. But now, apparently, his “halo” will fade somewhat.