“Lots of individuals I talked to on the production lines at Tesla or making rockets at SpaceX own Doge,” Musk tweeted in response to a tweet about Dogecoin being one of the most popular crypto assets in the United States. They aren’t financial professionals or techies from Silicon Valley. That’s why I chose to promote Doge in a tweet: “It seemed like the people’s crypto.” “Almost a third of all US cryptocurrency holders possess dogecoin,” according to the article’s URL, which was posted on Twitter.

Musk also stated that he does not own any Shibu tokens, but rather hash strings known as Bitcoin. “I got some ascii hash strings called “Bitcoin, Ethereum, and Doge” out of curiosity.” That is all there is to it. As I’ve previously stated, don’t put all your eggs in the crypto basket! True worth comes from creating things and offering services to your fellow humans, not from money in any way,” he wrote on Twitter.

Billy Markus, the creator of Dogecoin, agreed with Musk and stated that Dogecoin is fast, scalable, and economical to transmit around. “In my opinion, dogecoin only needs to be quick, scalable, and cheap to transmit around; it doesn’t need to be another another blockchain that hosts NFTs or other tokens or whatever the tech to get there is complicated, but that utility is simple and essential – beauty in simplicity.”

Shiba Inu rose to become the world’s 11th largest cryptocurrency before plummeting to 13th place after Musk revealed that he doesn’t own a single Shiba.