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Good news for DOGECOIN investors

Good news for Dogecoin investors After Elon Musk, Ethereum’s co-founder also came in Support

Ethereum co-founder Charles Hoskinson has said that Dogecoin may be a reasonable target for anyone looking to repair this and make it an interesting cryptocurrency. This comes after billionaire Elon Musk hyped cryptocurrencies, including calling himself the “ultimate” holder who won’t sell his tokens. Hoskinson also said that this coin has potential. If developers come on board then its use might be seen more within the world which makes it more viable.

Last Friday, during a podcast with AI (artificial intelligence) researcher Lex Friedman, Hoskinson, who is additionally the creator of Cardano, a public blockchain platform, said he expected an agreement that real developers could come up with and find some use for it. and may work on Doge to create the utility. “So a minimum of it’s a worth floor and it won’t collapse.” Hoskinson said within the podcast.

He also said that it could take between two and three years for Dogecoin which was once a parody digital currency to function as a contemporary cryptocurrency.

Hoskinson was also not against the thought of a collaboration between Cardano and Dogecoin. They were saying that working together would be tons of fun. But he also cautioned that the Tesla CEO’s influence on DogeCoin’s value could someday cause significant losses to retail investors if the currency’s code-base isn’t improved.

Musk, on the opposite hand, has single-handedly dominated the digital currency space and now has the ability to influence their value along with his tweets.

Earlier this month the CEOs of Tesla and Space tweeted Did: “I found this childhood picture.” the image included an image of an old computer and other gadgets and was enough to push DogeCoin’s value up by 15 percent.

March 2021, Tesla began accepting bitcoin as a payment mode for car sales. But two months then, in May, he suspended the acquisition of this cryptocurrency. Musk expressed concern over the increasing use of fossil fuels used by bitcoin mining and decided that the corporate would not accept digital currency as a sort of payment.

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