Tesla CEO Elon Musk has revealed that he still owns a large amount of Dogecoin. The billionaire has been supportive of the meme-based cryptocurrency and revealed himself to be a heavy holder of the cryptocurrency. This is consistent with Musk’s support for the meme coin’s rise and new highs in 2021.Musk said he still holds Dogecoin. Speaking on Twitter, the millionaire said that although he has maintained that Dogecoin is his preferred cryptocurrency to hold in the market, he does not appear to be selling any of the coins.Musk reported that he still owns a large amount of Dogecoin, but did not mention whether he holds other cryptocurrencies. But he noted that his space exploration company SpaceX continues to hold Bitcoin, the most prominent cryptocurrency in the space industry. Musk revealed: “I still have a lot of Dogecoin, and SpaceX has a lot of Bitcoin.”Tesla, the electric car maker, also holds Bitcoin on its balance sheet, so SpaceX is not the only company controlled by Musk to hold the cryptocurrency. Although he is no longer as outspoken as before, this overwhelmingly shows that Musk still has confidence in the future of cryptocurrency.One of the most interesting developments as a result of the bear market is that Elon Musk’s comments on Dogecoin no longer seem to have the same clout as they once did. Looking back at 2021, a tweet from a billionaire about Dogecoin would cause its price to explode by double-digit gains in a matter of hours.Despite Musk's public support for the meme currency and even saying he owns some of it, the price of Dogecoin hasn't moved much. Despite a slight price increase over the previous day, the overall cryptocurrency market has been on a rebound trend even without taking Musk's comments into account, especially with the adoption of the Spot Bitcoin ETF.Looking back in 2021, when Dogecoin soared to its peak, Musk's statement should have triggered a massive rally in the cryptocurrency. On certain days, whether you tweet dog-related memes or not, the price goes up dramatically. Based on this, it appears that Musk's influence over the asset has ceased to exist since then.However, Elon Musk remains an important selling point for Dogecoin holders. The billionaire’s remarks on X Space have been published many times and widely circulated in the Dogecoin community. Prominent members of the community, such as Dogecoin opinion leaders, have tweeted about it, drawing attention.For more analysis, pay attention to the universe, and share free daily spot passwords and bull market strategy layouts at the top of the list!
