Home
News
- Elon Musk offers new suggestions for Dogecoin.
- He responded to Billy Markus on Twitter.
- The meme-coin’s price was down by 2.42% during the past 24 hours.
Content Creators May Benefit From Dogecoin
Though Billy Markus created the most popular meme cryptocurrency, Dogecoin, it appears like Elon Musk has command on the leash. He remains a long time supporter of the meme-coin having enabled it as a payment mode for Tesla and SpaceX. Recently, he suggested a couple of ideas to boost its utility.
Tesla CEO responded to Billy Markus,Dogecoin creator, on Twitter, suggesting that the meme-coin’s utility will increase if businesses start accepting it. He also recommended that they should start using it to pay tips to the content creators. The asset is gaining a massive popularity lately following Musk’s love for the cryptocurrency.
This is not the first time Musk has stepped in to offer his thoughts to push the Doge’s utility. He recommended that the currency needs a platform that deals in non-fungible tokens. Meanwhile, suggesting that an Ethereum-Dogecoin bridge would improve the overall image of the ecosystem.
Vitalik Buterin too has a suggestion for the asset. He thinks that it should switch its algorithm to proof-of-stake. Recently, Ethereum shifted its consensus algorithm from PoW to PoS. He said that “The act will help the network reduce its carbon emissions by over 99%.”
Elon Musk has allowed the meme-coin as a mode of payment in his Boring Company, Tesla and SpaceX. He took to Twitter and said that “People can now purchase his product through Doge.” He made a sarcastic comment suggesting that people should buy his perfume so he can take over Twitter.
Elon Musk took over 9.1% stakes in Twitter on 14th April, 2022, making it the biggest stakeholder of the social media company. This was soon followed by his announcement that he will buy the platform soon. He proposed $43 Billion to buy the organization but showed his intention to leave the deal in between during July 2022. This led the board to announce that he had to pay $1 Billion in penalties.
However, it soon became crystal clear that the deal’s not off the table and is anticipated to close this month. Elon Musk wants to make a few changes on the platform including elimination of bots, implementation of free speech and more. Many have opposed the free speech element as the negative content may be on tear if implied.
Dogecoin was trading at a market value of $0.058 at publication time. The asset tried to push harder during August 2022 but failed to keep up with the price this month.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
