Founder and CEO of Chamber of Digital Commerce, Perianne Boring, has opined during the recent CNBC Squawk Box show that after Elon Musk admitted DOGE is a hustle, anyone who is buying this popular meme-coin is playing into his hand.
Dogecoin buyers play into Musk’s hustle, Boring says
After the appearance of Elon Musk at “Saturday Night Live” over the weekend, where he discussed Dogecoin, he admitted that his favorite cryptocurrency, even though it is a meme-coin, is a hustle.
Perhaps, this made the asset’s price plunge after the SNL despite contrary bullish expectations. DOGE lost almost half of its market value, dropping from $0.71 on May 8 to $0.44 on May 9, however, the growth then resumed.
Perianne Boring believes that Elon Musk is a Dogecoin holder who is pumping it has hard as he can. Therefore, she said, anyone who is buying into DOGE is playing into Musk’s hand or into Musk’s hustle.
Dogecoin is over 10,000% this year
Last week, DOGE almost doubled, rising from $0.42 on May 4 and reaching $0.71 on May 8. Overall, CNBC’s Kate Rooney stated that in 2021 the coin has been up more than a whopping 10,000 percent.
Still, even admitting it DOGE being a hustle, Elon Musk is being serious about it as his company SpaceX has agreed to accept a Dogecoin payment to a lunar payload for Geometric Energy Corporation (GEC), thus expanding its adoption.