In the past Elon Musk’s remarks have had tangible impacts on the value of cryptos, and as such his current comments regarding Bitcoin (BTC) and Dogecoin (DOGE) have the potential to cause price movements.
Tesla CEO’s odd relationship with digital money has made him an unlikely, but important, influencer for market participants.
Elon Musk reiterated his love for Dogecoin (DOGE) this week, continuing their seemingly never-ending affair. He also went on to express a positive opinion on Bitcoin (BTC) as well as other cryptos, finding “some merit” in them.
At the recent X Takeover 2024 event in San Luis Obispo, California, he said “I do think there’s some merit in Bitcoin… I sort of have a soft spot for Dogecoin, because I just like dogs and memes.”
Asserting, “I’m not going to be promoting crypto—at most, in a joking way.”, the 53-year-old addressed the misuse of his name amid crypto frauds. He cautioned that all advertising material featuring his likeness or other endorsements was probably fake.
From Twitter account hacks to advanced deepfake ads, scams featuring Musk’s distinctive look have caused notable losses across the market. This seemed to affect the South African native so much that it might have played a part in his acquisition of Twitter, now X.
Musk warned X users to always double-check ads and to be “cautious” about crypto scams. While he has fluctuated in his opinion on cryptocurrencies as a whole, he continues to suggest that Tesla will start accepting Dogecoin (DOGE) as payment.
Given Musk’s influence on the crypto market, our team has been closely monitoring how these shifts in sentiment can create opportunities. One project that seems ready to make a large move is Minotaurus (MTAUR).
It’s a token fronted by an infinite maze running game at its core and plenty of opportunities to see development during current market conditions.
Right now, the coin is available for $0.0000488, nearly 76% off the listing price of $0.00020. Elon Musk’s remarks highlight the importance of consumer trust in the crypto space and Minotaurus (MTAUR) has already completed successful audits from Coinsult and SolidProof.
Its roadmap as well as recent developments give holders plenty of confidence in the direction of the project.
Moreover, its referral and vesting incentives seem ready to help further propel Minotaurus (MTAUR) to greater heights. Additional upsides, good press, and solid social media engagement also bode well for its potential price performance.
The project is decidedly well-positioned to make a move within the fast-developing casual gaming niche, projected by Statista to grow by 9% every year.
Alex Stone
Alex Stone is a seasoned crypto writer with a passion for exploring the intersection of blockchain technology and financial markets. He routinely offers insights on the latest trends and innovations in the digital currency space.
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