Elon Musk is appealing to Dogecoin holders to sell most of their coins.

Despite being responsible for Dogecoin reaching the highest point, Elon Musk now calls for the largest Dogecoin holders to ‘sell most of their coins’.

Assume Twitter, the Tesla and SpaceX founder noted that he supports such a move, emphasizing the current issue of ‘too much concentration’. Goes even further to say that he would ‘literally pay real money’ if the major Dogecoin holders were just invalidating their accounts. Following the tweets, Dogecoin, which has risen 900 percent in recent weeks, has fallen another 9 percent, dropping it 34 percent from its everyday high.

Elon Musk has been supporting cryptocurrency for some time and is a major source of recent price fluctuations. In addition, Tesla Inc. recently announced its $ 1.5 billion USD investment in Bitcoin and plans to accept cryptocurrency payments.

I’ll literally pay real $ if they just invalidate their accounts

– Elon Musk (@elonmusk) 15 February 2021

Frodo was the underdog,
Everyone thought he would fail,
Himself most of all. pic.twitter.com/zGxJFDzzrM

– Elon Musk (@elonmusk) 11 February 2021

If you missed it, GameStop did not take advantage of the recent surge in r / WallStreetBets due to worrying regulations.