The Tesla CEO avowedly loves”dogs and memes” and is greeting the alleged likelihood of national scrutiny of his Dogecoin tweets with a constantly droll attitude.
Musk’s past showdowns with the SEC notwithstandingthat the CEO seems to be unfazed about the possibility of an all-too-real legal fallout triggered by his penchant for the meme cryptocurrency. Musk’s professed adore for”puppies memes” has spurred him to post jocular memes around Dogecoin, most recently one showing that the DOGE mascot”on the actual moon.”
While the mention apes trader lingo for stratospheric cost action and could therefore be construed as some kind of endorsement, Musk has publicly stated that for all his love of the meme cryptocurrency, he is partial to Bitcoin (BTC) when it comes to tactical personal and corporate investment. That hasn’t stopped the CEO’s tweeting, nevertheless tongue-in-cheek, from providing some serious gas for meme coin market volatility — Dogecoin Christmas 2020 being just 1 instance.
Musk’s seemingly all-too-real effect about the price movements of both cryptocurrencies, given his tremendous social media after, makes disentangling meme fun out of celebrity shilling almost impossible. Legal advisors have voiced their opinion that the CEO could be in for scrutiny from the SEC following his documented influence on Bitcoin’s cost moves this year.
Both the prospect of an SEC investigation and the prospect of DOGE’s metamorphosis to”a real currency” remain, for now, parallel meme-like and humorous eventualities in the CEO’s imagination. Musk’s past SEC struggles back in 2018 may have had actual consequences for its CEO, resulting in his removal as chairman of the Tesla board and the payment of financial penalties, but he seems unlikely to give up on his Twitter cries just yet.