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04/02/2024

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Elon Musk Makes Surprising Cardano (ADA) Move, But There's Big Catch

World's biggest Dogecoin proponent suddenly makes signs of turning his attention toward Cardano's native token, ADA

Elon Musk Makes Surprising Cardano (ADA) Move, But There's Big Catch

Tech centibillionaire, owner of Twitter/X platform and several other innovative tech companies Elon Musk has shown signs of interest in Cardano and its native coin, ADA, recently, according to a tweet by a major ADA-focused X account.

User @CardanoFeed published a screenshot showing that Elon Musk now follows his ADA news handle. “Welcome aboard!” he tweeted, tagging Elon Musk.

This comes as a surprising turn, considering the fact that Musk is a firm supporter of Dogecoin and also often talks about BTC. In 2021, Tesla even acquired $1.5 billion worth of it, pushing Bitcoin to an all-time high in April that year. Tesla also accepted Bitcoin in the same period of time for a few months, until Musk shut it down over controversial environmental concerns regarding Bitcoin mining. Whenever ADA or other communities, such as SHIB or XRP, have been trying to get Musk’s attention under his tweets, the billionaire has always ignored them.

This thing with ADA and Musk seems pretty convincing; however, in the comments thread, X user @CryptoIRELAND1 hinted that this is likely an April Fool’s joke.

Elon Musk gets community rolling on the floor with his April Fool's tweet
Earlier today, X owner Musk tweeted that he has taken the position of the chief DEI officer at Disney, adding that he looks forward to working with Bob Iger and Kathleen Kennedy to “to make their content MORE woke!”

The crypto community supported Musk’s trolling attempt and started publishing memes to stress what they call the “woke position” of Disney, Netflix and other giants from various business areas when it comes to social policy in various spheres of life.

Dogecoin eyes massive bull run, per analyst 
According to a recent tweet published by crypto analyst Ali Martinez, Elon Musk’s favorite cryptocurrency, DOGE, currently mirrors the pattern it followed between 2018 and 2021. The latter is the year when the original meme coin reached an all-time high, hitting $0.7376 on May 8.

This historic peak was reached on the back of the Bitcoin ATH reached in April that year and due to Musk endorsing DOGE on SNL show when he debuted. Now, Martinez believes that if Dogecoin is indeed following the same pattern, it could be in for a “massive parabolic bull run!”

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