X owner Elon Musk on Thursday responded to a criticism about cryptocurrencies.
What Happened: Musk was responding to a tweet by an X user that said, "Crypto is so f***ing lame it's insane."
Musk called the tweet a “Troll post of the day!”
Elon Musk himself has been linked to the meme cryptocurrency Dogecoin DOGE/USD since 2019, serving as an advisor to the developers behind the meme-inspired coin. However, it was in 2020 that Musk’s Twitter antics propelled Dogecoin into the spotlight.
Dogecoin was conceived as a mere joke by a group of engineers in 2013 and has now emerged as the eighth-largest cryptocurrency, boasting a market cap of $8.9 billion.
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Why It Matters: But the Dogecoin story doesn’t end there. Speculation has been circulating for some time that the DOGE could find its way into the world of X.
This comes as X on Tuesday was granted a license to provide cryptocurrency wallet services within Rhode Island.
Price Action: At the time of writing, DOGE was trading at $0.063, down 4.48% in the last 24 hours, according to Benzinga Pro.
Image created using AI via Midjourney
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