After vouching for Bitcoin, Tesla CEO Elon Musk has now said that if major Dogecoin cryptocurrency holders sell their coins, he will give them his full support.

Dogecoin is a cryptocurrency invented by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system. Nearly 113 billion coins have already been mined.

“If major Dogecoin holders sell most of their coins, it will get my full support. Too much concentration is the only real issue imo (in my opinion),” Musk said in a tweet on Sunday.

Amid the surge in Bitcoin and Ether cryptocurrencies, Dogecoin has surged more than 659 per cent this year.

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