Elon Musk Is Not Selling Tesla’s Dogecoin (DOGE) Anytime Soon: Here’s Why

- Despite selling most of Tesla’s Bitcoin (BTC) stash, Musk still holds $222M in crypto

- Developers of Dogecoin (DOGE) launched a new website called “Dogepedia,” a source for DOGE-related info

- Both memecoins Dogecoin (DOGE) and Shiba Inu (SHIB) are enjoying 6% gains in the last 24 hours

The dog-themed cryptocurrency that first came out as a joke has sentimental value for Elon “The Dogefather” Musk, as the world’s richest man started The Boring Company as a joke too, only to see it become a prosperous project later. Last week, the CEO of Tesla announced that the company had to sell 75% of its Bitcoin (BTC) stash. But it didn’t sell a penny of DOGE, of course.

Elon Musk’s Tesla Still Holds $222M in Digital Assets After Dumping $936M in Bitcoin

the panic last week over Tesla announcing that it sold 75% of its Bitcoin, the company reports holding $222 million worth of “digital assets” on its balance sheet as of the end of June. pic.twitter.com/4gV121zL36

— Einstein Of Finance

(@Thecoolboi7) July 28, 2022

Dogecoin (DOGE) Is Here to Stay

Founded in 2013 by Billy Markus, DOGE will mark its 10th anniversary next year. Besides being a fun, less serious and more accessible alternative to BTC for many of the crypto enthusiasts, consistency is another very important factor.

The developers of Dogecoin (DOGE) announced a major update to the ecosystem just last week, with strong recommendations for the DOGE Army to upgrade as soon as possible. The new update includes a dramatic fee reduction, with the dust limit lowered to 0.01 DOGE from 1 DOGE.
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