Everyone might have mistaken Elon’s intention. This isn’t about pumping and dumping crypto.
I worked with someone who has narcissistic personality disorder a few years back. He befriended the founder of the company and slowly took over control of the company.
He hated everything that wasn't his. He wanted control, to be part of the leadership of everything so that he could feel the company's success was his own.
He didn't like things he couldn't control. If another company we worked with, didn't involve him in their decision-making process or ask him for advice, he would go off on a narcissistic rage and calling then names. It was his way or the high way. He wanted credit and fame off every success.
The way Elon acted so far was very similar. He has a history of kicking out the founders of the company like he did with Tesla. He didn't like Bitcoin calling it just less shitty than fiat before Tesla bought it.
He promoted Dogecoin as a joke but slowly began to say things like "Fate loves irony. Maybe dogecoin would be the world's currency" and received a lot of love from the Doge community. Then proceed to try to get involved in Dogecoin's development.
Then he talked poorly on Bitcoin, calling it not eco-friendly and hinting at dogecoin's acceptance just few hours earlier.
I'm getting the same narcissistic vibe. I think what's going on here isn't about pumping and dumping. Elon knew he couldn't participate in Bitcoin since there's no Bitcoin ceo or team. He couldn't take over Bitcoin's development or tag Bitcoin to his own credits. He couldn't say "Bitcoin's success is thanks to Elon Musk."
I really think this is about him trying to get attention by literally trying to become Dogecoin's CEO (the dogefather). I think he's trying to make Dogecoin's development his and when it succeeds, he can give himself the full credit.
This guy is literally trying to get everyone to think of himself as the innovator of Crypto. Space, electric cars,neural link and AI is not enough(he bought into these companies founded by other people and credited their success with his own).
He is trying to be a crypto innovator as well, desiring other people to give him that title. This is a pure narcissistic ego trying to be recognized as a genius.