Crypto enthusiasts have been monitoring developments around the Dinoshi token amid speculations that it may be linked to tech tycoon Elon Musk. The crypto token was launched shortly after a hashtag #Dino420, tweeted by Musk, and there is a perception that the tech mogul may have connections to the project.

Recently, leaked conversations between a Dinoshi team member and its founder revealed that the team has a physical Dogecoin that bears the signature of Dogecoin creator, Billy Markus. This has lent more credence to the belief that Elon Musk may indeed have a bond with the project, even though no confirmation has been made.

The crypto token which trades at DINO/USD pair has been on a downtrend in the past 24 hours. WhaleChart market analysts opine that the pressure from bears is likely to cause prices to remain bearish in the short-term, before a reversal begins. It should be noted, though, that investors must be extra careful and exercise discretion as the entire episode may turn out to be nothing more than speculations.



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