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I'm not surprised if Tesla bought a lot of Dogecoin right after he called it "hustle". He can easily influence the market for profit.

My speculation is that Elon is worried about EV competition, and he is trying to make it up with cryptocurrency.

I don’t know what his goal is for Doge. Maybe he has a serious plan, or perhaps he just likes the attention. Regardless, it worries me that a man with such influence spends so much time manipulating the market (crypto or otherwise). Let’s not forget that this was the same reason why SEC forced him to leave his Tesla CEO position.

With great power comes great responsibility.

If I bought a $30,000 Tesla with dogecoin in January I would have been out 21 million dollars today.

It's like Elon said on SNL: Dogecoin is hustle.

Just replace "dogecoin" with "cryptocurrency."