Is Elon mocking the game?

The market has been responding to Elon's whims as of late. Virtually everything he says seems to have an effect on the price of Bitcoin, Doge, and other cryptocurrencies. I pointed how this toxicity might not be good for the market in my earlier post.

On the surface of it, it looks like harmless fun but like @frot pointed out, there are probably other forces at play here. @edicted's post that featured a triggering comedy skit by one of those desk comedians about the propaganda on the backdrop of the Elon mess is further proof of what Frot suspects.

On the surface of it, it all looks to me like a total joke and the entire system is being ridiculed. Elon sits at the center of this mess, as he puts more pressure by tweeting random shit for his pleasure.

The recent one is how he's working with "doge developers" to fix some underlying issues. In his tweet, he stated;

“Working with Doge devs to improve system transaction efficiency. Potentially promising.”

What efficiency is he referring to? Perhaps it is related to his intention to make it "greener" considering his recent Bitcoin stance or maybe it is because Tesla actually wants to accept Doge as payment.

I'm still not sure what the end game is but it looks very coordinated and also like a mockery of the entire system. His tweet about working with the imaginary Doge developers corresponded to a %26 rise in the value of the token, according to Coingecko, and raised the shitcoin's market cap by roughly $10 Billion.

The new McAfee?

Others have decided to take a more relaxed view of the situation and just consider him to be one of many rich comedians that will pop into the unregulated scene. In a market where smart and dumb money coexists without borders, perhaps this should be expected.

In 2017, John McAfee had a similar effect on some shitcoin projects and he also pumped and dumped them in a similar way to Elon. While his impact wasn't as much as Elon's, it was a similar situation and after a while, the market caught on to annul the influence.

Perhaps we're still in an extended honeymoon phase with Elon. The "allure" of being in the same market with one of the world's richest men might be doing its bit. However, just like McAfee, the market will catch on and his influence will be greatly reduced.

Yes, he will still have the money and can influence things on the market, but the point is that his tweets and media events won't have as much effect. Nothing lasts forever at the end of the day, and at some point, the show must end.

Is Elon mocking the game?

The new McAfee?

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