It’s the worst-kept secret in cryptocurrency that Elon Musk is a known admirer of Dogecoin (DOGE). In fact, he’s made his belief in the $DOGE apparent more than once. It’s helped establish Dogecoin as one of the most well-known cryptocurrencies in the world. But could we see Elon Musk back other meme coins such as Shiba Inu (SHIB) or the presale sensation Caged Beasts (BEASTS) in the future?

Dogecoin Has Been Elon Musk’s Favourite Crypto

Elon Musk’s Twitter page can sometimes appear like a love letter to Dogecoin for those in cryptocurrency. He alludes to it every so often and more recently when he responded to Twitter founder Jack Dorset with “DOGE ftw”. He has repeatedly stated his belief in the supremacy of Dogecoin within the cryptocurrency industry and recently, in an audacious move, replaced the Twitter logo on its loading page with the Shiba Inu dog belonging to Dogecoin.

Some also speculated that, following Elon Musk’s purchase of Twitter, he would somehow integrate Dogecoin into the social media platform. Although this has not yet happened, Dogecoin has benefited considerably from Musk’s high-profile endorsements of it. Its value has often shot upward in the immediate aftermath of Musk referring to it and this has kept it swimming ahead of other meme coins.

Is this likely to change in the future? Elon Musk is difficult to predict and meme coins, like the rest of the crypto market, are unpredictable and subject to change in value due to turbulent markets. But right now, Dogecoin and Elon Musk appear to be an inseparable duo.

Elon Musk Is Unlikely To Endorse Shiba Inu Anytime Soon

Shiba

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Author: BeInCrypto Team

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