Digital Currency Group CEO and giant Bitcoin whale Barry Silbert tweeted recently that he was thinking of not buying the meme coin project, Dogecoin (DOGE).
Bitcoin whale tripping over Dogecoin
Some Bitcoin maximalists have asked Barry Silbert, one of the most influential people in the cryptocurrency industry, to stay away from meme coin projects. As reported by Kriptokoin.com, Barry Silbert tweeted that Elon Musk shorted Dogecoin on the cusp of the “Saturday Night Live” inaugural program that took place on May 9. He bought an undisclosed number of 3x leveraged short tokens on the FTX exchange and promised to donate all profits to “financial education and Bitcoin-related causes.”
Barry Silbert’s tweet marked the culmination of the massive rally of Dogecoin (DOGE), the dog-themed meme coin that turned many heads in 2021, shorting Dogecoin from $0.74 Silbert prevented DOGE from reaching $1 with the atmosphere of fear it created. Shortly after reaching a market cap of $90 billion, the Bitcoin parody crashed to the ground. Some members of the community have even started blaming the crypto billionaire for bursting the bubble. The DCG boss claimed that Dogecoin was overvalued, claiming that Dogecoin had no use whatsoever.
Anti-meme coin, thought to buy Dogecoin
Earlier today, the price of Dogecoin (DOGE) indicates that Elon Musk is getting close to taking Twitter. rose more than 15% on the news. At the time of writing, as we reported as Kriptokoin.com, the meme coin increased by more than 23%, with Twitter officially confirming the purchase. Upon this development, Baryy Silbert shared the following on his Twitter account:
I can’t believe it crossed my mind to buy Dogecoin today.
Bitcoin whale who tripped Dogecoin Barry Silbert from now on meme coin It is not known whether he will get it from his project, but DOGE continues its rally for now. The social media giant is expected to announce its record-breaking deal today. Prior to that, Elon Musk had bought a 9% stake in the social media platform.
As it will be remembered, Tesla CEO recently stated that Dogecoin will be accepted for Twitter Blue premium subscriptions. On Sunday, Elon Musk also suggested that using the meme cryptocurrency to tip creators would be a “nice” way to increase its utility.
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