Elon Musk “abandons” Dogecoin after months of love

The feeling of the Dogecoin community is that Elon Musk has “abandoned” the cryptocurrency in recent weeks, after living months of intense love for the meme project.

This feeling may be related to Musk’s recent behavior, especially on his Twitter. He hasn’t published anything about the meme currency for several days, nor does he interact with the community anymore.

It’s worth noting that a recent IBM study stated that Dogecoin’s price is related to its community interactions on social media.

That is, without Elon, the DOGE quote ended up dropping 10.8% in the last 30 days. Bitcoin appreciated 25% in the same period.

Elon Musk abandoned the cryptocurrency meme?

The Dogecoin community tends to sneak a peek at Elon Musk’s profile to see if he’s posted anything that mentions the coin.

On July 18, for example, Dogecoin rose 20% after Musk changed his profile picture on Twitter, putting the cryptocurrency symbol reflected in his glasses.

Elon Musk Photo Doge Glasses
Elon Musk Photo Doge/Twitter glasses

In recent days, however, Musk only publishes photos of spacecraft from his company, SpaceX, which is entirely normal since he is the CEO of the company that holds Bitcoin as a store of value.

As it doesn’t even comment on its much loved and once mentioned Dogecoin, the community continued to wait for a sign, until this Friday (6). That’s because the CEO of Tesla removed from his profile his image with the DOGE glasses, putting in its place a SpaceX spacecraft.

Elon Musk's new profile photo is from a SpaceX rocket
Elon Musk’s new profile picture is from a SpaceX rocket/Twitter

The move makes clear that Musk may now be focusing on his business with his space company, leaving aside cryptocurrencies, at least for now. Still, after months of intense love, the movement caught the attention of the Dogecoin community who benefited from the billionaire’s constant public speaking.

Movement puts an end to Dogecoin’s price speculation?

Despite the move to abandon Dogecoin, Elon Musk had warned in recent weeks about the project, which should not be seen as an investment by those who follow this ecosystem.

By removing his profile image for one of his profession, one of the richest men may have put an end to the market’s speculative movement around the price of Dogecoin, which lasted several months.

However, it is unclear whether Elon can take a break and soon get back to talking to his favorite meme community, which would again drive the price up in the market or not.