updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131hustle domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131wpforms-lite domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131Dogecoin DOGE/USD has outperformed the stock of Elon Musk-led Tesla TSLA in 2022.
What Happened: TSLA has lost 68% this last year and traded at $125 on Thursday. The stock’s market price reached $399 in January and has ever since been crumbling.
On the other hand, despite overall choppy crypto markets, Musk’s favorite DOGE is outperforming TSLA. It is down only 58% so far this year, with the market cap standing at $10 billion.
See More: Best Crypto Day Trading Strategies
Tesla stocks took a shocking dive on Thursday with a near 9% decline following the company’s announcement to reduce the prices of their Model 3 and Model Y vehicles by $7,500 for delivery this month across the U.S.
During a Twitter Spaces talk centered around Musk on Thursday, he emphatically stated that he will not sell any Tesla shares next year “under any circumstances.” He went on to explain that while Tesla’s board is open to a buyback, they will evaluate the situation better when the scale of a potential 2023 recession becomes more clear. “If it looks like we are doing OK and the stock price is absurdly low, my vote would be to do a buyback,” Musk said.
This statement comes after Musk declared in April that he was done selling Tesla shares to help finance his ongoing overhaul at Twitter, Musk has gone on to sell more than $20 billion worth of Tesla stock.
This sparked fears of tumbling demand and added fuel to the fire, with Musk already offloading $3.5 billion worth of shares last week.
Price Action: At the time of writing, DOGE was trading at $0.078, up 6.69% in the last 24 hours, according to Benzinga Pro.
The world’s richest person is the CEO of several companies and also sits on the board of directors of others. Here’s a look at what’s going on with The Boring Company, a company founded by Elon Musk in 2016.
What Happened: Musk, who serves as the CEO of Tesla Inc TSLA and SpaceX, posted a video on Twitter highlighting a milestone for The Boring Company.
Prufrock II emerging from the ground pic.twitter.com/csamCrmAZa
— Elon Musk (@elonmusk) October 2, 2022
The video shows the test of Prufrock II digging through the ground. The video shows Musk celebrating with family and friends.
Musk said the tunnel boring machine (TBM) tunneled from one property to another to test Prufrock II.
The TBM, which is designed to tunnel at a speed of one mile per week, has been in Texas for more than a year. The Boring Company previously shared a picture of Prufrock II going into the ground in Texas in April 2022.
Related Link: Why Did Musk’s ‘Boring Company’ Apply For A Private Access Tunnel Under Tesla Gigafactory Texas?
Why It’s Important: The Boring Company has a mission of helping ease traffic concerns with loops and hyperloops.
“Our goal is to solve traffic, which plagues every major city on earth,” Musk said in April 2022 about The Boring Company.
The company currently operates a tunnel system in Las Vegas, Nevada, that primarily uses Tesla vehicles. Customers can pay for the underground rides with various options, including Dogecoin DOGE/USD.
The Boring Company plans to increase its capacity and destinations in its Las Vegas operations. The company also plans to add more tunnels throughout the country.
One issue is scaling, something that Musk admitted the company is still not at. Musk has a goal of beating “Gary the Snail,” named after the SpongeBob SquarePants character. The snail taunts The Boring Company with his speed, Musk previously said. The goal is to get the tunnel boring machines to move faster than a snail, which can help reduce costs and create tunnels at scale.
While the Prufrock II is faster than the company’s previous tunnel miner, the capacity of one mile per week is still below the fictional “Gary the Snail.”
Musk said that The Boring Company could beat Gary the Snail in 2024.
“In the short term, if each Prufrock-2 mines at 1 mile/week and TBC produces 1 new Prufrock machine per month, then TBC will be introducing 600 miles/year of capacity,” The Boring Company said in April 2022.
The Boring Company raised $675 million earlier this year in a funding round valuing the company at $5.67 billion. The funding was said to help bring in new employees and help scale operations.
The funding could also help the company develop Prufrock III, which the company said could have a goal of seven miles per day.
Photo: Prufrock courtesy The Boring Company
Every week, Benzinga conducts a survey to collect sentiment on what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.
This week, we posed the following question to over 1,000 Benzinga visitors on altcoin investing: If you had $100 right now, would you put it on Dogecoin DOGE/USD, Bitcoin Cash BCH/USD, Ethereum Classic ETC/USD or Litecoin LTC/USD?
See Also: Ethereum Vs. Ethereum Classic
Price Action: Original meme cryptocurrency Dogecoin is lower by 3.3% at $0.057 at the time of publication.
Bitcoin Cash, which came came about after a disagreement arose about Bitcoin’s block size, is down 3.7% to $108.90.
Ethereum Classic, the original version of the Ethereum blockchain, is down by 4.8% at $27.76.
Sometimes referred to as the “silver to Bitcoin’s gold,” Litecoin is down by 2.5% to $51.10.
Tesla Inc TSLA re-stocked its Cyberwhistle after previously removing it from its online merchandise store. The item, which sold out within three hours, was briefly listed for a new price of 1000 Dogecoin.
What Happened: Elon Musk alerted his Twitter followers that the Cyberwhistle was available once again in a tweet on Tuesday…Read More
This survey was originally conducted by Benzinga in September 2022 and included the responses of a diverse population of adults 18 or older.
Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 1,000 adults.
Investors who have put money into major U.S. indices have enjoyed respectable returns over the past 5 years. In fact, the SPDR S&P 500 ETF SPY, Invesco QQQ Trust Series 1 QQQ and SPDR Dow Jones Industrial Average ETF Trust DIA totals return over that stretch have been 64.9%, 112.8% and 45.9% respectively.
As good as investors in the major US indices have had it over the past 5 years, cryptocurrencies have been that much better. Cryptocurrency bulls that bought in September 2017 and held on for the long-term, despite the volatility, have been treated to epic returns on their investment.
See Also: Is Shiba Inu A Good Investment?
Winners Since September 2017: Here’s how much $1,000 in each of the following cryptocurrencies bought back in the summer of 2017 would be worth today:
Dogecoin has lost around 13% to $0.064 since mid August. The crypto has continued its ongoing popularity following Tesla Inc TSLA CEO Elon Musk‘s endorsement of the meme coin as his favorite cryptocurrency… Read More
Every week, Benzinga conducts a survey to collect sentiment on what traders are most excited about, interested in, or thinking about as they manage and build their personal portfolios.
This week we posed the following question to over 1,000 Benzinga visitors on cryptocurrency investing: What’s Next, Is Dogecoin Heading Back to 5 Cents Or Making A Run To 10 Cents?
In this week’s study, Dogecoin hitting 10 cents next received a majority of support from traders and investors. Dogecoin has also been catching headlines this summer, with Tesla Inc TSLA CEO Elon Musk re-affirming support for DOGE in a tweet… Read More
Choppy Markets As All Eyes On Powell
Cryptocurrencies were in the green even as other risk assets like stocks saw volatility on Tuesday evening. OANDA senior market analyst Edward Moya said that the “base case” for U.S. Federal Reserve’s Aug. 25 slated Jackson Hole Symposium “still leans towards the hawkish side.”… Read More
This survey was conducted by Benzinga in August 2022 and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 1,000 adults.
Dogecoin DOGE/USD co-founder Jackson Palmer doesn’t think his fellow co-founder blocking him on Twitter IncTWTR was ill-intended.
What Happened: In a recent interview with Business Insider, Palmer said the reason that Billy Markus blocked him was likely due to an auto-blocking script that Markus runs.
“There were a couple of things that he and I disagreed with, or I disagreed with him on Twitter and I don’t know exactly why he blocked me on Twitter,” said Palmer.
“He also runs a bunch of these auto-blocking scripts, where he’s blocked like over 100,000 people because he’ll click a thing that’s like ‘block everybody that’s liked this post.'”
According to Palmer, one of the tweets he liked may have put him in the category that the auto blocking-script identified.
“I think I probably got caught in one of those because I liked something that was maybe anti-crypto or anti-Elon,” said Palmer.
Earlier this year, Palmer called the Tesla Inc TSLA/USD CEO a “grifter” who sells a vision without knowing he can deliver what he promises.
Musk responded by called Palmer a “tool” and said that the Dogecoin creator falsely claimed a piece of code he wrote could get rid of Twitter bots.
Palmer said he has since made a conscious effort not to talk about Musk because “it’s not worth it.”
See Also: IS DOGECOIN A GOOD BUY?
Price Action: At press time, DOGE was trading at $0.064, up 1.02% in the last 24 hours, as per data from Benzinga Pro.
Halloween may be over a month away, but people are starting to plan out their costumes for trick or treating and parties. Two of the most followed people on Twitter Inc TWTR in the stock and cryptocurrency worlds shared their costume ideas Friday.
What Happened: Dogecoin DOGE/USD co-founder Billy Markus poked fun at spambot issues on Twitter Inc TWTR that often involve people pretending to be Binance CEO Changpeng Zhao.
“Imma dress up as @cz_binance for Halloween this year. I’ll start all conversations with ‘whyy isn’t anyone talking about this??’ pointing to a scam YouTube uniswap video playing on my phone,” Markus tweeted.
Like clockwork, a spambot account replied to the tweet from Markus saying “why you not talking about this?” which prompted the appropriate response by Markus of “I literally am.”
Tesla TSLA CEO Elon Musk replied to Markus, complimenting the costume choice and offering up his own take on an idea for a Halloween costume this year.
“I’m dressing up as a sink & knocking on random doors. Once they see me, they will have no choice but to let that sink in,” Musk tweeted.
Related Link: What Does Elon Musk Do On His Birthdays?
Why It’s Important: The costume idea from Markus comes as a highly anticipated court case between Twitter and Musk over a planned acquisition of the social media platform is about to begin. Musk argues that Twitter is underestimating its spam account figures and wants more information.
Markus has pointed to increased spam accounts that reply to every tweet he posts, which prompted him to take a short break from the social media platform earlier this week.
Musk’s costume idea reflects the sense of humor that he has come to be known for on Twitter and from his past hosting gig of “Saturday Night Live” in 2022.
While neither may choose to actually wear costumes as mentioned on Twitter, they could inspire others to create costumes based on these concepts.
Photo: Created with an image from Ministério Das Comunicaç on Flickr
Dogecoin (CRYPTO: DOGE) traded 1.3% lower at $0.14 over 24-hours leading up to early Friday morning.
DOGE fell alongside other major coins as the global cryptocurrency market cap declined 1.4% to $1.9 trillion at press time.
| Time-frame | % Change (+/-) |
|---|---|
| 24-hour | -1.3% |
| 24-hour against Bitcoin | 0.45% |
| 24-hour against Ethereum | 0.5% |
| 7-day | -5.2% |
| 30-day | 13.1% |
|
YTD performance |
-20.3% |
See Also: Best Crypto Debit Cards
On Thursday, U.S. Federal Reserve Chair Jerome Powell said we’re going to be raising rates and getting expeditiously to levels that are more neutral and then that are actually tight.” Statements made by Powell on the same day indicate that the Federal Reserve may opt for a more aggressive 50 basis points hike at its next policy meet.
On Thursday, Tesla Inc (NASDAQ: TSLA) CEO Elon Musk sighed heavily in reaction to a scammer that commented on one of his posts. The cryptocurrency scammer had advocated Dogecoin as a solution to Twitter Inc’s (NYSE: TWTR) spam problems while carrying out a giveaway scam.
Currency.com CEO Steve Gregory said the company has noted a gradual shift from its users holding Bitcoin to meme coins such as Dogecoin.
DOGE co-creator Billy Markus reacted to a tweet from Musk on Thursday. The entrepreneur said, “If our twitter bid succeeds, we will defeat the spam bots or die trying!”
i think i have around 3,000 actual human followers
— Shibetoshi Nakamoto (@BillyM2k) April 21, 2022
Markus said he had only about 3000 actual human followers in response to Musk. Markus has a Twitter following of 1.3 million.
Markus said in a separate tweet that his account was now the 6969-th largest account on the Jack Dorsey-founded social media platform.
thank you to my 1.3 million followers
i am now the #6969-th largest account on twitter
— Shibetoshi Nakamoto (@BillyM2k) April 21, 2022
Dogecoin-oriented Youtuber Matt Wallace said that “Authentication based on Dogecoin transactions would be cool.”
Authentication based on Dogecoin transactions would be cool
— Matt Wallace (@MattWallace888) April 21, 2022
Read Next: Bitcoin HODLers Clenching Their Moneybags Even As Stocks Plunge Is Remarkable, Says Analyst
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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