Good News for Dogecoin Investors: After Elon Musk, Ethereum Co-Founder Also Comes in Support

Ethereum co-founder Charles Hoskinson has said that Dodgecoin is a reasonable target for anyone looking to fix this and make it an interesting cryptocurrency. This comes after billionaire Elon Musk promoted the cryptocurrency, including calling himself the “ultimate” holder who would not sell his tokens. Hoskinson also said that this coin has potential. If developers come on board then its use can be seen more in the real world which makes it more feasible.

Last Friday, in a podcast with AI (artificial intelligence) researcher Lex Friedman, Hoskinson, who is also the creator of Cardano, a public blockchain platform, said he expected an agreement that could come with real developers and Might find some use for this. And can work on Doge to create utility. “So at least it has a value floor and it won’t collapse.” Hoskinson said in the podcast. INR in last 6 months Dodgecoin price (in Indian Rupees) It has been extremely volatile and investors cannot be sure how long the current price will last.

He also said that it may take two to three years for Dogecoin, which was once a parody digital currency, to function as a modern cryptocurrency. Hoskinson was also not against the idea of ​​a collaboration between Cardano and Dodgecoin. They were saying that it would be great fun to work together. But he also cautioned that the Tesla CEO’s influence on the value of DodgeCoin could someday cause significant losses to retail investors if the currency’s code-base is not improved.
Musk, on the other hand, has single-handedly dominated the digital currency space and now has the power to influence their value with his tweets.

Earlier this month the Tesla and SpaceX CEO tweeted: “I found this childhood photo.” The picture included a picture of an old computer and other gadgets and was enough to push DodgeCoin’s value up by 15 percent.

In March, Tesla began accepting bitcoin as a payment mode for car sales. But two months after that, in May, they suspended the purchase of this cryptocurrency. Musk expressed concern over the increasing use of fossil fuels used by bitcoin mining and decided that the company would no longer accept the digital currency as a form of payment.