Elon Musk Says He will Support Sales by Top Dogecoin Holders

Elon Musk Says He will Support Sales by Top Dogecoin Holders

Elon Musk, who’s been a vocal supporter of Dogecoin, said there’s too much concentration of the coins among its major holders and he will support them if they sell their coins.

“If major Dogecoin holders sell most of their coins, it will get my full support,” the Tesla Inc. co-founder and chief executive tweeted Sunday evening.

“Too much concentration is the only real issue.” In a follow-up tweet, Musk restated his support for the “meme” cryptocurrency: Dogecoin has fallen 14% in the past 24 hours to 5.6 cents, according to data from CoinMarketCap.

The Shiba Inu-themed digital coin has been among the obsessions of retail investors this year, rising to an all-time high of 8.4 cents last Monday from about 1 cent at the beginning of the year.


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