Tesla Billionaire Elon Musk Has Suddenly Sent The Price Of ‘Joke’ Bitcoin Rival Dogecoin Sharply Higher

Tesla Billionaire Elon Musk Has Suddenly Sent The Price Of ‘Joke’ Bitcoin Rival Dogecoin Sharply Higher

News

Dogecoin DOGE , the meme-based, tongue-in-cheek bitcoin rival that’s a favorite of Tesla TSLA billionaire Elon Musk, has suddenly leaped higher—even as the bitcoin price dives.

Subscribe now to Forbes’ CryptoAsset & Blockchain Advisor and successfully navigate the crypto price roller coaster

The dogecoin price, after rocketing up the crypto top ten by value last year only to crash back as doge mania receded, has again entered CoinMarketCap’s top ten.

Dogecoin’s rally has been sparked by reports Musk is nearing a deal to buy social network Twitter following his month-long assult on the company, with dogecoin traders betting Musk may integrate dogecoin into the service.

Want to stay ahead of the market and understand the latest crypto news? Sign up now for the free CryptoCodex—A daily newsletter for crypto investors and the crypto-curious

MORE FROM FORBES’Target The Bitcoin Price’-Internal Documents Reveal How The EU Could Crack Down On Bitcoin And ‘Protect’ EthereumBy Billy Bambrough

Telsa CEO Elon Musk has repeatedly called for dogecoin, a “joke” rival to bitcoin, to reduce its … [+] fees and speed up its transaction time, helping the dogecoin price to soar.

Getty Images

The dogecoin price has added 5% since this time yesterday after reports emerged overnight that Twitter is considering accepting Musk’s original offer to pay $54.20 per share in cash for the company, valuing it at $43 billion.

However, dogecoin remains down by some 80% from its 75 cent peak set in May last year ahead of Musk’s appearance on comedy sketch show Saturday Night Live.

Yesterday, Musk again shared his thoughts on how to improve the meme-based bitcoin rival dogecoin, sparking fresh speculation doge support could be added in to a Musk-controlled Twitter.

Dogecoin co-creator Billy Markus suggested “the more [dogecoin] can be used as a currency, the better,” called for it to be used as a “tipping currency,” and proposed a ethereum upgrade to improve dogecoin “utility.”

“First one definitely, second is nice to have and third isn’t needed, [in my opinion], Musk replied.

The dogecoin price has fallen significantly from its all-time high of around 75 cents per doge, … [+] dropping far further than the bitcoin price which has lost around 40%.

Coinbase
Binance

Source link

Latest Crypto News


Popular Links

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments