Elon Musk Confirms He Still Owns A “Bunch” Of Dogecoin, So Why Are Investors Deserting Him For This New Altcoin?

Elon Musk has acknowledged that he still holds a “bunch” of Dogecoin, the well-known parody currency. But despite this well-known endorsement, investors are shifting their attention to Pullix, a new DeFI cryptocurrency. Investors are taking notice of the new altcoin due to its broad usage and strong price rise.

Tesla Boss Still Holds Dogecoin (DOGE)

Elon Musk, CEO of Tesla, disclosed in an X Space discussion that he still owns a large amount of meme coin dogecoin (DOGE) and that his spaceship manufacturing company, SpaceX, still has a large amount of bitcoin.

For years, the CEO of Tesla and Dogefather has championed this meme coin community. He said that he directly owned Dogecoin, Bitcoin and Ethereum before.

In June 2021, Musk spoke of continuing to buy and support Dogecoin. SpaceX and Tesla now accept Dogecoin for some products, while Musk’s Boring Company offers payments in Dogecoins to ride the Las Vegas Transit System loop.

Lately, the billionaire promised to have a Happy Meal on TV as soon as McDonald’s takes Dogecoin. Notwithstanding the tremendous support from Elon Musk, DOGE has been ranging between $0.07566 and $0.0898 for over a week.

Poor price movement has made investors hunt for better crypto coins. Among the altcoins that have attracted their attention is Pullix.

Investors Move To Pullix (PLX) for 100x Gains

Pullix (PLX) is making headlines in the cryptocurrency market after jumping 100% to $0.08 in less than a month. Several investors have expressed interest in the project as Jr becomes the best crypto to buy. One reason for this intense interest is Pullix’s anticipated introduction in Q1 2024, which analysts predict would result in a 100x increase in demand. 

In addition, Pullix is developing the first hybrid exchange in the DeFi market. The key feature will be faster transactions and more tradable assets. Pullix broadens its reach, unlike CEX, such as Binance, which focuses only on cryptocurrency. It facilitates the trade of currencies such as forex and commodities.

This variety fosters a dynamic trade environment. For example, the Over-The-Counter (OTC) Derivatives market trades more than $40 trillion every day, whilst the currency market trades $7.6 trillion per day. But there’s more to Pullix. It is committed to providing a seamless user experience. The capacity to trade anonymously is a significant part of this. 

Furthermore, Pullix avoids the need for lengthy Know Your Customer (KYC) verifications. This strategy not only safeguards privacy but also simplifies and broadens trade to a larger audience. As a result, for those wishing to trade various assets anonymously, Pullix is a leading choice in the DeFi market.

The PLX token is used in platform transactions and can be staked to earn rewards, thereby being the best crypto to buy. Moreover, there is a Market-Making Liquidity Contribution functionality that facilitates passive revenue generation. Pullix users will act as market makers and provide liquidity to the platform.​

Bitcoin, Ethereum, Solana and other cryptocurrencies users can use to provide liquidity. In return, they get a share of fees that were generated from their exchange. For market makers who trade on the exchange, the platform provides an annual return of 8% to 18%.

Final Thoughts

Despite several shout-outs by Elon Musk, Dogecoin’s price performance has been largely abysmal. In addition, its chances of being integrated as a payment token on X are minimal.

As a consequence, investors are abandoning ship and heading over to more promising projects, such as Pullix, that have real functionality. Its altcoin is priced at $0.8 but is estimated to gain 10x in the first quarter, making it one of the DeFi cryptocurrencies to buy.

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