Dogecoin Price Drops, Elon Musk Says He Will Buy DOGE Again

JAKARTA – The founder of Tesla and SpaceX, Elon Musk, recently stated that he will buy the meme coin Dogecoin (DOGE) even though the price has plummeted. On the other hand, the Tesla boss is also facing a $258 billion lawsuit for promoting Dogecoin.

Apparently, the lawsuit didn't stop the billionaire from supporting the Shiba Inu dog logo coin. He stated that he would continue to support Dogecoin and buy it. “I will continue to support Dogecoin", Musk said in a Twitter post, Sunday, June 19, 2022.

Previously, Elon Musk had announced that some Tesla and SpaceX merchandise could be purchased using the cryptocurrency Dogecoin. Musk does plan to adopt Dogecoin as a medium of exchange in his company.

He also briefly stated his grand plan that Tesla's electric car and SpaceX rocket flight tickets would be available for purchase with DOGE soon.

On the other hand, one of the creators of Dogecoin, Billy Markus, shared his views on DOGE. According to Markus, the development team should focus on the usability and security of DOGE. Elon Musk agrees with Markus and calls DOGE "more like a currency."

Dogecoin was first created in 2013 by Billy Markus and Jackson Palmer as a joke for Bitcoin. Billy Markus who is a programmer from the International Business Machines Corporation (IBM) considers the plan to make Dogecoin just for fun.

Markus had his personal reasons for the coin. He reasoned that a light (comedy) cryptocurrency would have a greater chance of attracting attention than Bitcoin.