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Elon Musk says he supports top dogecoin holders selling most of their coins

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Feb 14 (Reuters) - Billionaire Elon Musk said on Sunday thathe supports major holders of the meme-based digital currencydogecoin selling most of their coins, adding that he felt toomuch concentration in dogecoin was the "real issue".

"If major Dogecoin holders sell most of their coins, it willget my full support. Too much concentration is the only realissue imo", Musk said in a tweet https://bit.ly/3aj5LEd.

A well-known supporter of cryptocurrencies, Musk has weighedin regularly on the recent frenzy in retail investment, drivingup prices of dogecoin and shares of U.S. video game chainGameStop.

Musk's electric vehicle company Tesla Inc revealedon Feb. 8 it had bought $1.5 billion of the cryptocurrencybitcoin and would soon accept it as a form of payment for cars.

(Reporting by Kanishka Singh in Bengaluru; Editing by KimCoghill)