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October 4, 2022
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SEC will take a closer look at the activities of Elon Musk regarding DogeCoin –

The popular Twitter profile, CryptoWhale, has just published a post that may scare DogeCoin (DOGE) investors and … Elon Musk himself. He suggests the SEC will start an investigation into the Tesla CEO. It’s about his tweets on DOGE.

SEC vs. Elon Musk

It is worth noting that the above message has not yet been published on the SEC website. The fact that this may be true is evidenced by the fact that at the end of January the commission warned against investing in assets that are promoted in social media.

The SEC’s Investor Education and Support Office warns investors of the high short-term risks investing based on social media, especially in volatile markets, (…).

Retail investors may seek to profit from volatile markets by buying individual stocks, including those in highly promoted companies with lower market capitalization. Some of these actions may be discussed on social media as well as rating sites, message boards, chat rooms, news aggregators, investment research sites, online investment newsletters, and message boards. It may seem interesting to join this mod and follow the crowd. However, sometimes following the crowd can lead to high investment losses

– you can read at investor.govwhich is managed by the SEC.

The article does not write directly about Musk, but it is known that he has long been promoting DOGE in a more or less veiled way. He said it was the people’s cryptocurrency. Another time he joked that he would like to be the CEO of this project. Once he made a mysterious statement about Bitcoin. He claimed that the word “Bitcoin” was his safe word, a password he used during bolder bed games. He recently added the name of the cryptocurrency to his Twitter description, which led to a temporary jump in its price.

But will the SEC now actually launch an investigation into Musk’s alleged market manipulation?

Wall Street is afraid of the street?

The above scenario suggests the mentioned Twitter account:

This year has already shown the bigwigs on Wall Street that the so-called the street can play on their noses. This was evident during the GameStop events, which were pumped up a lot thanks to the joint initiative of the hurdles from the internet forum. Then a similar phenomenon occurred in the silver market.

In the case of Musk, however, we are talking about something else. It turns out that one person has such a big influence on the markets that he is able to manipulate them with one tweet.

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