Elon Musk Reacts Enthusiastically to $4.20 Billion DOGE Hint
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Billionaire Elon Musk, Tesla boss and owner of the X social media behemoth, has reacted to a comment to his post made by user @DogeDesigner (a member of the Dogecoin team, according to his bio).
That reaction was full of enthusiasm since DogeDesigner made a big hint at DOGE, the iconic meme cryptocurrency loved by Musk.
"$4.20 billion per day" — DOGE number for D.O.G.E.
In an X post published almost 10 hours ago, Elon Musk shared some thoughts on reducing the federal deficit as part of his job as the head of the U.S. Department of Government Efficiency, D.O.G.E., with an @DOGE account on the X network.
Musk stated that in order to reduce the deficit from $2 trillion to $1 trillion it is necessary to cut roughly $4 billion per day on average in projected spending from the present moment to Sept. 30.
DogeDesigner user commented, suggesting that this figure should be raised to $4.20 billion per day. That was a clear hint at 4.20 — the “Doge number,” which was widely associated with smoking weed prior to the appearance of memes and Dogecoin. Dogecoin Day is now celebrated every year on April 20. Last year, the fourth Bitcoin halving event took place on that day.
Musk reacted with a “rocket” emoji.
Yuri MolchanDOGE and other crypto may fall if D.O.G.E. succeeds, per Musk
Earlier this month, Elon Musk made an important statement, saying that if his work at the Department of Government Efficiency is a success, top cryptocurrencies, including Dogecoin, are likely to fall in price significantly.
On Jan. 7, Musk responded to a tweet published by the founder of Y Combinator Garry Tan. Tan said that he bets on Dogecoin to skyrocket should Elon Musk succeed with D.O.G.E. and reducing inflation.
Musk commented, saying that if the D.O.G.E. team manages to solve dollar inflation, “the price in dollars to buy cryptocurrency will actually drop, other things being equal.”
At the start of the week, the iconic meme cryptocurrency, DOGE, increased by 9.84%, hitting $0.33869. Since then, Dogecoin has been moving sideways, holding around the $0.33242 level.
On Monday, DOGE hit a local low after a massive weekly crash of 23% as it fell from the $0.40145 price mark.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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