[Blockchain Today Reporter Han Ji-hye] While speculation that the US Securities and Exchange Commission (SEC) is investigating the relationship between Elon Musk and Dogecoin is spreading, Elon Musk tweeted, “I hope that SEC will investigate,” he said. It will be amazing.”
According to local media on the 25th (local time), the SEC was reported to have launched an investigation on suspicion that Elon Musk has encouraged the price of Dogecoin to rise. In fact, Tesla has mentioned Dogecoin several times in a recent tweet.
In addition, the relationship between Tesla’s CEO Elon Musk and the SEC is famous for having a bad relationship. According to CoinDesk, Elon Musk previously said in 2018, “I don’t respect the SEC.”
However, it seems unlikely that the SEC will actually investigate Dogecoin and Elon Musk. It is reported that the SEC is not considering meme-based Dogecoin as a securities.
Dogecoin was only 0.5 cents at the beginning of the year. However, as Bitcoin surged, it started to skyrocket. On the 17th, Dogecoin recorded 5 cents. That is a whopping 1000% increase. The market cap (market cap) reached 6.8 billion dollars.
Meanwhile, Dogecoin is a cryptocurrency created in 2013 by software developers Billy Marcus and Jackson Palmer. They created cryptocurrency inspired by the Japanese Shiba Inu memes, which were popular on the Internet at the time, and also included Shiba Inu in the currency mascot.