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Elon Musk Works With DOGE to Improve Transactions

CryptocurrencyMay 16, 2021 04:00AM ET
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Elon Musk Works With DOGE to Improve Transactions

  • Elon Musk is working with Dogecoin developers to improve DOGE transactions.
  • Soon after Elon disclosed this news, the DOGE price increased drastically by 14%.
  • Dogecoin price is $0.543753.

On May 13, Tesla (NASDAQ:TSLA) CEO Elon Musk announced that he is now working with Dogecoin (DOGE) developers to make DOGE transactions better and more efficient.

Interestingly, shortly after Elon shared the news, Dogecoin price increased overwhelmingly by over 14%. Of note, the sensational meme-coin, Dogecoin, began literally as a joke with no technological features.

However, Elon has consistently shared a series of DOGE related statements this year. Notably, Elon’s DOGE statements have greatly pushed the altcoin’s price higher. For instance, when Elon called it a “hustle” on May 8.

To clarify, Elon dubbed DOGE as “hustle” when he appeared on “Saturday Night Live”.

Not only Dogecoin, but Elon has also greatly influenced Bitcoin (BTC) price movement these days via a series of tweets and announcements.

However, due to Elon’s effect on both Bitcoin and Dogecoin, the crypto community thinks that Elon’s actions could be aimed at manipulating the entire crypto market. Based on a report, many also believe that Elon could have DOGE on a “rhetorical leash”.

For this reason, the crypto community believes that Elon could cause a crash in DOGE at any time if he loses interest. “Whatever Musk’s intent, that puts DOGE holders in a uniquely vulnerable position”.

At the time of writing, Dogecoin price is $0.543753 with a 24-hour trading volume of $45,376,815,332, according to Coingecko.

This article was first published on coinquora.com

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Elon Musk Works With DOGE to Improve Transactions
 

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Comments (5)
Jared Ryan
Jared Ryan May 16, 2021 4:57PM ET
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All these bitcoin fanboys are mad that Elon exposed btc for what it is. Old, outdated, slow, useless tech. Dogecoin is the future, sell your bitcoin and buy Doge unless you want to slowly bleed out with btc.
Hassanzaib Zaib
Hassanzaib Zaib May 16, 2021 10:44AM ET
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good
Audi Veloria
Audi Veloria May 16, 2021 9:57AM ET
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He should dump all his BTC
Jared Ryan
Jared Ryan May 16, 2021 9:57AM ET
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Yes! And buy MORE Dogecoin
Audi Veloria
Audi Veloria May 16, 2021 9:56AM ET
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Dogefather 🤥
Henry Moradpour
Henry Moradpour May 16, 2021 5:01AM ET
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Elon is a joke man, he needs to shush
Jared Ryan
Jared Ryan May 16, 2021 5:01AM ET
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Losing a lot on btc huh? Buy Dogecoin and youll recoup your losses. Not a financial advisor
 
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