What is the specific event? Since 2020, the price of bitcoin has soared, so many people are not optimistic about the emergence of this currency. So, someone invented a dogecoin to ridicule bitcoin. Tesla President Musk supported Bitcoin at that time and often commented on Bitcoin. Moreover, he mocked dogecoin on the variety show as rubbish and a scam, and encouraged everyone not to buy it. Surprisingly, however, Musk's space exploration technology company, Aerospace Company, accepted payment from dogecoin in the following period. Once this incident was exposed, everyone immediately realized that this was all a routine!

How deep is Musk's routine? In fact, Musk has shown amazing routines as early as the Bitcoin era. When Bitcoin was not valued, Musk didn't make any comments, and probably bought it silently. Musk is a good financial player. He knows people's desire to make money, so when everyone is not optimistic, he uses his social influence to express his views. Push up the price of bitcoin with your own strength, and so does dogecoin. Although it was publicly ridiculed on various occasions, it still made the market value of dogecoin rise when everyone didn't trust it. Now the total market value of dogecoin has reached $96 billion.

Dogecoin lied from the beginning. We can see that dogecoin was manipulated by its own market when it went public. It is very likely that Musk used his huge funds to constantly speculate on the value of Doecoin, which made many people feel that the present value of Doecoin is reasonable.

In this way, people overestimate dogecoin, which is a kind of commercial fraud. Now the value of Doecoin has been fully recognized by people, but it has suddenly dropped by nearly 40%, which proves that Doecoin itself has a huge bubble. So this behavior is very deceptive.