• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Polymarket Set To Go Live In The US Following CFTC Approval, Says CEO
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Polymarket Set To Go Live In The US Following CFTC Approval, Says CEO
Dogecoin

Elon Musk’s Support For Dogecoin Amplifies Amid SEC’s Securities Label

Christian Encila
by Christian Encila
2 years ago
·
Posted in Dogecoin, Elon Musk
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Dogecoin (DOGE) recently found itself entangled in the latest developments in the financial world. As the digital currency followed the broader market’s downward trend, news broke that the US Securities and Exchange Commission (SEC) had taken legal action against Binance and Coinbase. 

This unexpected turn of events drew the attention of none other than Elon Musk, the influential entrepreneur and self-proclaimed “Dogefather.” 

With Dogecoin’s value taking a hit and the SEC’s lawsuit causing ripples across the crypto community, Musk couldn’t resist responding to the unfolding situation.

Related Reading: Bitcoin Advocate Robert F. Kennedy Jr. Gains Jack Dorsey Support In Bid For Presidency

Coinbase should pivot back to being focused on #Bitcoin pic.twitter.com/RFKzKTKMko

— Pierre Rochard (@BitcoinPierre) June 6, 2023

Elon Musk Again Champions Dogecoin

As news of the SEC’s lawsuit against Coinbase broke, Pierre Rochard, the vice president of research at Riot Platforms, on Twitter emphasized the importance of refocusing the exchange’s attention on Bitcoin. Rochard’s suggestion aligns with his belief in Bitcoin’s resilience and long-term potential as the leading cryptocurrency.

Supporting Rochard’s viewpoint, Jack Dorsey, the founder of Twitter and a well-known advocate of Bitcoin, also weighed in on the matter. Dorsey expressed his support for prioritizing Bitcoin amidst regulatory challenges, emphasizing its robustness and significance in the crypto landscape.

DOGE market cap currently at $9.4 billion. Chart: TradingView.com

Musk, renowned for his interest in cryptocurrencies and previous endorsements of Dogecoin, wasted no time in responding to Dorsey’s pro-Bitcoin stance. With his characteristic brevity and wit, Musk took to Twitter and tweeted a concise yet attention-grabbing statement. 

In his tweet, he simply wrote “DOGE ftw,” using the abbreviation “ftw” to signify “for the win.”

Dogecoin’s Reaction To Regulatory Pressure 

As news of the SEC’s lawsuit against Binance, a leading cryptocurrency exchange, spread, Dogecoin experienced a decline in line with the broader market. However, the market’s expectation that Musk’s tweets could rapidly boost the token’s price has not been fulfilled in the current scenario. 

Despite its strong association with Musk’s endorsements, Dogecoin is currently trading at $0.067970 at CoinGecko, reflecting a 5.0% decrease over the past week.

Source: Coingecko
Related Reading: Bitcoin Investors Get Robust Returns In May – How Will Binance Lawsuit Affect Their Gains?

While Dogecoin has not been named among the tokens considered securities by the SEC, the prevailing regulatory pressure and negative sentiment in the industry have contributed to its generally low price. The lack of clarity and uncertainty surrounding the regulatory landscape has dampened market sentiments, affecting the value of various cryptocurrencies, including Dogecoin.

While the SEC has not designated Dogecoin as a security, the impact of regulatory pressure and market trends has kept the altcoin’s price relatively low. As the industry navigates this challenging period, the future of Dogecoin remains uncertain, and investors eagerly await any potential developments or further endorsements from Musk that could influence its price trajectory.

Featured image from REUTERS/Dado Ruvic/Illustration

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Christian Encila

Christian Encila

Follow

Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Full Profile

Related Posts

Dogecoin crash

Dogecoin Price Crash Below $0.19 May Be Imminent If This Happens

16 hours ago
TRUMP

Here’s How Much The TRUMP Meme Coin Will Be With The Market Cap Of Dogecoin

1 day ago
Dogecoin PEPE

PEPE Beats Out Shiba Inu In Major Meme Coin Metric, Is Dogecoin Next?

1 day ago
Shiba Inu Dogecoin

Can Dogecoin And Shiba Inu Prices Recover? What To Expect In September

2 days ago
Dogecoin

Elon Musk’s Lawyer Listed As Chairman Of $200-M Dogecoin Treasury — Details

4 days ago
Dogecoin news

Dogecoin Network Gears Up Against Upcoming Attack: Here’s How

6 days ago

Premium Sponsors

Press Releases

  • XRP is expected to break through $7. APT Miner helps...

    47 minutes ago
  • miner

    Expectations of a Federal Reserve rate cut and demand for...

    4 hours ago
  • miner

    BlackRock suspends XRP listing, price faces resistance...

    5 hours ago
  • miner

    The September Curse Returns: How Crypto Investors Can...

    5 hours ago
  • Ethereum Price USD: The Latest Innovations of Crypto’s...

    6 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.