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Dogecoin Festival Would Be 'Kinda Fun', Elon Musk Says

© AP Photo / Richard DrewThis mobile phone app screen shot shows the logo for Dogecoin, in New York, Tuesday, April 20, 2021
This mobile phone app screen shot shows the logo for Dogecoin, in New York, Tuesday, April 20, 2021 - Sputnik International, 1920, 01.06.2021
The SpaceX founder is known to be a fan of the Shiba Inu cryptocurrency. Not only does his aerospace manufacturing firm now accept the meme-inspired coins, but Musk appears to be doing everything he can to send the 'doge' “to the moon”, including naming a new satellite after the crypto.

Elon Musk is flirting with the idea of having a Dogecoin-themed festival, after some crypto enthusiasts suggested on Twitter that it would be cool to host an event with the starring entrepreneur turning up as a DJ.

Musk didn’t say whether he agreed to entertain the Shiba Inu-loving crowds with his music powers, but said that the whole idea, proposed by a viral Dogecoin fan account, sounded “kinda fun.”

The self-described “Dogecoin father” has recently made cocky gestures in trying to send his favourite cryptocurrency “to the moooon.” Musk announced in May that his SpaceX company would launch a new satellite named Doge-1 to the moon next year, adding that the mission would be paid in the same-named cryptocurrency.

Musk also revealed around the same time that Tesla would stop accepting a rival cryptocurrency, Bitcoin, as a payment method over “climate concerns.” The news, as well as a new round of regulations on the use of digital currency coming from Beijing, led to Bitcoin’s staggering drop in the middle of May. Overall, the currency lost some $20,000 in recent weeks, at one point dropping to $30,000 from the record price of $64,829 it reached in mid-April.

Dogecoin’s achievements and falls are significantly more modest. It peaked at $0.7 in the start of April, but then took a fall, currently trading at $0.3.

Musk’s recent endorsement of potential doge festival – just a few days ahead of the Bitcoin 2021 Miami crypto conference – is sending ripples among observers. Musk’s tweets are often associated with a “butterfly effect” across the crypto world.

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