All eyes in the Dogecoin community are now on Elon Musk. Lovers of Dogecoin are quite expectant that Dogecoin will be rewarded in due time, as Twitter rolls out a new feature.

Part of the revenue that is generated from Twitter advertisements will soon be made available to creditors according to Elon Musk’s tweet.

“Starting today, Twitter will share ad revenue with creators for ads that appear in their reply threads.” Elon Musk wrote in a tweet that has sent Twitter users over the moon. No further information has been shared so far, but creators are looking forward to Elon Musk and the Twitter team disclosing what the exact amount will be.

It’s important to keep in mind that accessibility is limited and exclusive to a select few. “To be eligible, the account must be a subscriber to Twitter Blue Verified,” Slon Musk said in another tweet.

Elon Musk has also clarified what Twitter users should expect from Twitter blue. Raising concerns about the dangers that could arise from the new development, one Twitter user asked Elon Musk about what happens to accounts that were verified before, then later signed up for Twitter blue, and later unsubscribed.

Elon Musk who seems to think that Twitter blue cannot be trusted responded to the comment. He’s quoted saying that “Twitter’s legacy Blue Verified is unfortunately deeply corrupted, so will sunset in a few months”

Dogecoin lovers maintain excitement for the weeks ahead, hoping that Twitter will eventually adopt Doge

There’s been a collective expression of positivity from a lot of users since Musk made the tweet. The tweet from Musk has elicited several responses from big names.

The likes of  Mr. Beast and other big personalities are responding positively. Lex Friedman, a well-known crypto podcast host is hopeful too. He anticipates that more important content and less drama will follow as a result.

Creators are looking forward to the possible advantage that the new model will bring to all Twitter users. For the crypto ecosystem, this is another signal that crypto is on its way to Twitter. Once payment begins to go out to Twitter creators, fiat and other cryptocurrencies, as Elon Musk had mentioned in the past, will be added to Twitter.

With Elon Musk being a known Dogecoin lover, the Dogecoin community is understandably eager to know when Doge finally becomes a payment option on Twitter.

Der Beitrag Community awaits Elon Musk to push Dogecoin again as Twitter launches new ad share model erschien zuerst auf Crypto News Flash.

Memecoins have continued to enjoy the limelight in the crypto market. Dogecoin (DOGE) and Shiba Inu (SHIB), the market-leading dog-themed memecoins, have exploded in trading activity in recent times even as prices soared.

DOGE has been part of the crypto coins enjoying the market price spike over the last week. The market-leading dog-themed memecoin gained a staggering 13 percent profits to reach an intraday high of $0.089 in the last week.

Per data from CoinMarketCap, SHIB recorded a massive 20% uptick in the last 24 hours and 38.7% in the weekly chart. The 13th-ranked cryptocurrency by market capitalization is currently trading at around $0.000012.

SHIB also continues to enjoy a massive push from the biggest Ethereum whales tracked by WhaleStats. The whale transactions data aggregator shows that SHIB is both the biggest token position and most traded token of the 100 largest ETH whale wallets.

Similarly, Nansen’s data shows that SHIB’s trading activity does not exclude retail investors. The crypto market intelligence platform reports that nearly $1.1 billion in SHIB has traded hands between Jan. 17 and Jan. 18 on decentralized exchanges (DEXs).

What is driving the SHIB and DOGE price surge?

The excitement in the SHIB market is not unrelated to the recent unveiling of details of its upcoming layer 2 protocol, Shibarium. Shiba Inu developers wrote in a blog post that the scaling solution will have a dedicated SHIB burning portal.

The post also revealed that there is no date yet for the mainnet launch of Shibarium. However, the team is putting finishing touches to Shibarium Beta, a planned public testnet of the protocol. It adds that there is not yet any transaction per second (TPS) estimates for Shibarium.

Meanwhile, recent revelations in the DOGE ecosystem show that the Dogecoin blockchain has significantly reduced its carbon footprint. According to a Forex Suggest report, Dogecoin saw a 25% decrease in its annual CO2 emission in 2022.

The blockchain emitted 1,063 tons of CO2 in 2022 compared to 1,423 emitted in 2021. This is in part due to the Dogecoin Foundation’s collaboration with Elon Musk to make the network more sustainable.

The report notes that about 5,313 trees will need to be planted to offset the emission. However, this is down from the 7,117 trees needed to erase the pollution caused in 2021.

Notably, DOGE and SHIB have not been the only memecoins making a splash in the market of recent. BONK, a new Shiba-Inu-dog-themed token in the Solana ecosystem, is up 796% year-to-date (YTD). The memecoin is however losing steam in the market. It is down 41.5% in the last two weeks, presently trading at $0.00000013.

Der Beitrag Dogecoin amongst the most traded cryptocurrency under top 100 ETH whales – Can it drive DOGE price? erschien zuerst auf Crypto News Flash.

BONK, the newest viral memecoin in the cryptocurrency market, is proving to be a strong competition for leading memecoins Dogecoin (DOGE) and Shiba Inu (SHIB).

The Solana-based dog-themed token has outperformed the two market-leading memecoins in the last week per price data from CoinGecko. BONK opened the year 2023 at a price of $0.0000002 and surged as high as $0.000004 on Jan. 5. This marked gains of 1,900 percent in less than one week, signaling that the memecoin has built massive momentum, and poised to continue its bullish upclimb.

However, the surge was followed by a downward correction that has seen BONK drop to around $0.0000016 at present. Although, this is still about a 1000 percent gain in the year-to-date (YTD) timeframe.

In contrast, DOGE has recorded only a modest YTD gain of 9.02 percent. At press time, the biggest memecoin by market cap is trading at around $0.076, up 6.18 percent in the last 24 hours. SHIB’s is also up 8.66 percent YTD, and 4.95 percent on the day, trading at $0.0000089.

Amid the BONK price rise, the developers of the memecoin have carried a massive token burn. The team announced via its Twitter handle that it had burnt 5 trillion BONK tokens worth over $10 million. These tokens represent 5 percent of the circulating supply of BONK and were allocated to the team.

$BONK represents the best of Solana. Our community is working together across the ecosystem to make positive change for all of us.

The 5 Trillion $BONK tokens allocated to “The Team” have been burned. pic.twitter.com/g7w62sdKhb

— Bonk! (@bonk_inu) January 5, 2023

The team also shared the transaction ID of the burn to back the announcement with on-chain proof. 

Can BONK overtake SHIB and DOGE? 

Despite its recent meteoric rise and the limelight it currently enjoys, BONK still has a long way to go before it can measure up to DOGE and SHIB. The memecoin launched in December 2022 currently has an all-time high market capitalization of around $93.47 million. This places it as the 279th-ranked crypto by market cap. 

Meanwhile, DOGE presently has a market cap of $10.6 billion. SHIB follows with a market cap of $5.24 billion. These OG memecoins also have well-established ecosystems and millions-strong communities backing them. 

Nonetheless, BONK also has its limelight status going for it at present. The memecoin is rapidly expanding its ecosystem. In the past few weeks, the team has clinched several bullish partnerships and integrations. 

The team has unveiled an elite list of Solana NFT artists that it is collaborating with to launch its NFT collection, the BONKz collection. OMNI Creative, the creative studio coordinating the collection, announced that upon its selling out, around $210,000 worth of BONK will be burnt.

BONK is also partnering with India-based Web3 short video-sharing social media platform Chingari. Chingari is launching a reward program worth 100 billion BONK exclusively for holders of its native GARI token and stakers, as well as Panda NFT holders. These moves could eventually establish BONK in the top echelons of memecoin ecosystems.

Der Beitrag Meme coin fight: BONK outperforms DOGE and SHIB amid 5,000,000,000,000 token burn erschien zuerst auf Crypto News Flash.

• As part of the process, the foundation would distribute 500,000 DOGE to the developers after the Dogecoin Core records a minor or major advancement.

The Dogecoin Foundation has announced a 5,000,000 DOGE ($360,000) development fund meant for developers who contribute to the ecosystem. According to reports, the funds would first be moved to a “segregated multi-signature wallet,” and would be run by members of the foundation. “chromatic (Dogecoin Core developer), Marshall Hayner, Patrick Lodder, Michi Lumin, and Ross Nicoll” would reportedly be in charge of its security. 

The DOGE held in this wallet will disburse rewards to developers of Dogecoin Core for work on all contributions, no matter how big or small.

As part of the process, the foundation would distribute 500,000 DOGE to the developers after the Dogecoin Core records a minor or major advancement. However, the actions of each contributor would determine the reward size, and the process would be completely transparent. 

The announcement further clarifies that custodians have no right to access the money in the wallet either as individuals or as a group. Also, a custodian cannot nominate their successor, but can only request secession for their slot. 

The remaining custodians shall publicly nominate a replacement and unanimously agree on the appointment of the successor. When this process is completed in full and a successor is appointed, the custodian is relieved of all duties.

In a situation where a custodian is not available without notice for at least three months, the others shall initiate a succession process. The affected custodian can only return to active duty after the succession process has been completed. 

Dogecoin Foundation welcomes Marshal Hayner to the Board of Directors

As part of the announcement, Marshal Hayner has been added to the Board of Directors.

We would also like to welcome Marshall Hayner to the Dogecoin Foundation board of directors at this time, his consistent commitment to the Dogecoin community and the development of Dogecoin has inspired many. Marshall brings executive and technical leadership experience to the Dogecoin Foundation and has been instrumental in creating this Core development fund.

The Dogecoin Foundation came back to life in 2021 after years of inactivity. The new advisory board was formed with the likes of Ethereum’s Vitalik Buterin, and Dogecoin’s Founder Billy Markus (Shibetoshi Nakamoto) forming part of the unit. 

In 2021, the Dogecoin Foundation collaborated with Vitalik Buterin to come up with a Proof-of-Stake-based community system. This triggered speculation that the ecosystem could be moving to the Proof-of-Work mechanism.

The Foundation is also working with Vitalik (Founder of the Ethereum blockchain) on crafting a uniquely DOGE proposal for a ‘Community Staking’ version of PoS that will allow everyone, not just the big players, to participate in a way that rewards them for their contribution to running the network, and at the same time gives back to the whole community through charitable causes.

Michi Lumin has, however, clarified that this is just a rumor, as the foundation has no plans to follow in the footsteps of Ethereum. 

The Doge community has shown some positive sentiments following the announcement with the price currently trading at $0.071. Regardless, it is still 90 percent down from its all-time high. 

Der Beitrag Dogecoin price explodes after huge development fund announcement – Report erschien zuerst auf Crypto News Flash.

Up till around June 2022, the Dogecoin ecosystem remained confident about DOGE’s price reaching the $1 level before December 2022. Their confidence further rose when Matt Wallace, a popular Dogecoin influencer, forecasted that DOGE would trade at $1 by the end of 2022.

He was so confident in his prediction that he revealed to the popular news outlet Watcher Guru in an exclusive interview that if DOGE doesn’t trade at $1 by December 2022, he will delete his YouTube account.

I am so confident #Dogecoin will pass $1 by the end of the year, that I will delete my YouTube channel if it does not.

— Matt Wallace (@MattWallace888) June 15, 2022

However, it’s now January 2023, and DOGE has yet to trade at $1. Instead, it currently trades at $0.07, according to to our data. In addition, it is nearly 90.5 percent off its peak price of $0.73, which it set in May 2021. Many members of the Dogecoin community hope that Elon Musk’s DOGE-1 mission might push DOGE’s price to $0.5. However, time will tell whether DOGE will trade at $0.5 after Musk’s DOGE-1 mission.

No launch date yet

Unfortunately, Elon Musk hasn’t shared any possible date of when the launch will likely happen. Also, the SpaceX team has yet to release any official statement regarding the launch. The only hint of a possible launch date has been from Dogecoin’s UI/UX designer, who recently tweeted that the space mission launch should happen on or before March 2023.

He added that the mission would be the first space mission with full funding through any digital currency. If his words were true, the space launch should happen in the next 100 days or less than three months from today. Nevertheless, there is still no official statement from SpaceX to confirm or deny the date.

DOGE-1 Mission will launch no earlier than March 2023, as confirmed by @SamuelReidGEC @GeometricEnergy @YourTimeInSpace

This mission is completely funded by Dogecoin, thus becoming the first space mission funded by a cryptocurrency. pic.twitter.com/cMWk0yL9lF

— DogeDesigner (@cb_doge) December 31, 2022

DOGE’s price prediction after space mission launch

However, the real question is, what happens to DOGE’s price after the space mission launch? While it is likely that DOGE’s price will rise following the launch, it is unlikely to hit the $0.5 price mark as the hype surrounding this digital asset has reduced significantly worldwide. Furthermore, analysts predict that the global financial market downturn will continue this year. Hence, the prices of cryptos and stocks will continue to decline.

Hence, it is unlikely that DOGE’s price will trade at $0.5, even though there is no doubt that the space-1 mission launch will be a topic of hot debate in the crypto space. Even though it crossed the $0.5 price level during its famed bullish run in 2021, most DOGE investors are currently in debt, as each of their Dogecoins is worth less than $0.1.

DOGE can only trade at $0.5 if it surges by 835 percent after the space mission launch. However, the ongoing crypto bear market makes this projection an unlikely possibility. Nonetheless, the Dogecoin community can hope that other project developments related to Dogecoin can cause a rise in the value of the network’s native currency.

Der Beitrag Dogecoin: Will DOGE reach $0.50 after the space mission is launched by Elon Musk? Report erschien zuerst auf Crypto News Flash.

Dogecoin developers have denied the news making the rounds that the network will be switching to a PoS network soon. Instead, the developers clarified that they would submit a proposal. The Dogecoin foundation’s principal engineer, Michi Lumin, tweeted about the denial on Thursday via his official Twitter account.

More info for ya. Influencers, even if they have millions of views and followers, even if they speak with authority, do not actually have the inside scoop on what's going on with #dogecoin. Just because one says a validation method is changing, doesn't mean it is.

— Michi Lumin (@michilumin) December 29, 2022

According to Lumin, the Dogecoin foundation can’t upgrade the network without receiving approval from the network’s validators. He further explained, saying, “no organization or individual can switch Dogecoin to PoS. The maximum they can do is to provide the validators and the community with an outline, possibly a code outline. Hence, it is ridiculous that people say Dogecoin is switching to a PoS. That’s not how this network runs. We don’t do things by authoritativeness or force.”

Spreading rumors for views and followers

Lumin added that those spreading the rumors were doing so to get more views or follows on their social handles. Lumin’s last statement was an apparent jab at Rabid Mining, a YouTube channel that first published the ‘news’ on Wednesday. The channel titled the video “What if Dogecoin moves to PoS?” and shared the video on Twitter and Reddit before it went viral.

One Redditor commented that a Dogecoin switch to PoS will cause at least a 60% profit reduction for scrypt miners.

DOGECOIN Wants To Merge To POS This Will Kill Scrypt miners Profits By Over 60% https://t.co/XRZRi7GT3f@dogecoin #doge #asicmining #crypto #cryptos #cryptomining #passiveincome #bitmain #cryptonews #Dogecoin #Vitalik

— Rabid Mining (@MiningRabid) December 28, 2022

The video didn’t specify that the Dogecoin team would forcefully switch the network to a PoS. Instead, it assumed that the Doge foundation might make a move since Ethereum CEO, Vitalik Buterin, is one of the foundation’s advisors. Also, the video warned that no one should buy scrypt miners since a PoS switch means the end for scrypt miners.

Furthermore, Rabid Mining predicted that Dogecoin would make the switch quickly. The YouTube channel claims to be confident about the information citing an October news article where the article claimed that a Dogecoin PoS proposal is in the works. Rabid Mining added that the Dogecoin foundation website had previously discussed this proposal. Nevertheless, Lumin’s tweet proves that a PoS upgrade is inevitable.

Doubts regarding Dogecoin’s PoS implementation

Even though the Dogecoin team has denied Rabid Mining’s news, industry analysts have doubts about implementing a PoS switch for Dogecoin. According to the analysts, there should be a test chain before the complete upgrade to a PoS. For instance, the beacon chain was Ethereum’s test chain before its switch to a proof-of-stake.

Using the beacon chain, Ether users transferred their ETH to a new PoS from the old proof-of-work (PoW). Ethereum developers didn’t complete a final merge of the two networks until many users successfully used the new chain. Yet, some miners ‘hard-forked’ the old Ethereum PoW network and called it ETHW because they disliked the upgrade.

However, the completion of the merge resulted in a 65 percent drop in the ETHW’s price. This price decline resulted in declining mining profits, forcing some miners to shut down their operations. A 2miners.com chart showed the declining rate in the ETHW hash rate.

Nevertheless, time will tell whether Dogecoin will also use the process to make its switch or whether it will make a switch at all. However, the hot debate surrounding the rumored change proves that some Dogecoin community members do not want the proposed change.

Der Beitrag Dogecoin is not moving to PoS – False rumors in the community heated up discussion erschien zuerst auf Crypto News Flash.

2022 has been a year of the unexpected in the digital asset industry, and it’s fair to say any comparison can be a rational thing to do in this case. The crypto market’s bearish trend grabbed the headlines in the year so is Elon Musk, the ardent Dogecoin supporter who has been the most prominently featured personality in the news. Meme crypto assets like DOGE and SHIB occasionally react to Musk’s actions and activities.

However, the new Twitter owner could do little to influence the price of the assets in 2022. This year has been bloody for the two largest crypto tokens, Bitcoin and Ethereum, as they lost between 60-70 percent of their market value. The same can be said of other digital assets connected to the billionaire tech entrepreneur. Interestingly, the stock price of Musk’s electric car-making firm, Tesla, has dipped 64.42%.

Also, the prices of Dogecoin and Shiba Inu dipped 54.36 percent and 75.22 percent, respectively, in the same period. Apart from this, speculation is that Twitter may have snatched Tesla’s shine by taking most of Musk’s attention from his most important project. The reason for the rumor is that stocks from rival electric car manufacturers like Ford and General Motors outperformed that of Tesla in the same timeframe.

In a recent tweet, the co-founder of Epsilon Theory, Ben Hunt, noted that it sounds strange that only Tesla was impacted by the macroeconomic effect and not Ford or GM, with the two seeing a 1 percent and 8 percent increase while Tesla recorded a 41 percent decrease.

Is Twitter Responsible for Tesla’s Slump?

Following the billionaire’s completion of his Twitter takeover in October, Tesla’s share price witnessed a market free-fall in the same period, which makes observers note that Tesla might be struggling to share Musk’s influence with another firm. In a rather unusual remark, the CEO of Gerber Kawasaki Wealth Management, Ross Gerber, disclosed that the Tesla stock fluctuation reflects that of a company with no head.

According to Gerber, Tesla may need some assurances from Musk to put things in order when he returns from Twitter. However, Musk did not hesitate before responding to Gerber’s remarks by requesting that the latter go back and consult his Securities Analysis elementary texts.

What Next for Dogecoin, Tesla, and Shiba Inu

It is difficult to say what is the next step for the three Musk-linked entities, but things might change for the better in the coming days. Meanwhile, Musk is seeking a new CEO for Twitter after he conducted a poll where most respondents want him to step down. If Musk can take charge of only the software and server units on Twitter, he may have the time to focus on his other company.

As for Dogecoin and Shiba Inu, 2022 indicates that the billionaire alone cannot do it all, and they will have to put in the work in 2023 to avoid sinking further.

Der Beitrag Who performed better in 2022? Shiba Inu vs Dogecoin vs Tesla – Report erschien zuerst auf Crypto News Flash.

Dogecoin has undergone several technical developments as the team seeks to back it up with real-world use cases beyond its investment use. A recent report has disclosed that Dogecoin transactions have been designed to be sent through radio transmission. In a blog post, Doge developers Mitchie Lumin and Timothy Stabbing mentioned that SpaceX’s Starlink satellite network would be used to facilitate Dogecoin transactions without the internet. This explains why the Radiododge Regional Hub was created. This has been confirmed by a Twitter page identified as “DogeDesigner.”

Dogecoin Transactions without internet access?

Yes! It will be possible with the project “Radio Doge” which focuses on using Radio tech. combined with  Starlink satellite network to enable access for people outside the reach of the internet. The 1st transaction took place in April.

It is worth noting that DOGE is not the first crypto to be sent through radio transmission. People have used concepts like “mesh networking, amateur radio equipment, and portable antennas” to get access to Bitcoin transactions without the internet. 

Read more: BREAKING: This Smartphone Feature Allow Billions of People Send Bitcoin Offline Worldwide

Dogecoin transactions routed from the regional hub

The Radio dodge technology is said to be a reliable and low-cost technology that works with the Starlink internet service. According to reports, the offline transaction was “transmitted over HF radio to a regional hub more than 150 miles away in Colorado, USA.” The software behind the transaction is called Project Libdogecoin. It is said to be a ” C-based library of Dogecoin protocols” that operates as a building block for Dogecoin projects. 

According to Michi Lumin, the wider community would be allowed to transact through the radio as they seek to establish a low-cost open-source hardware implementation in the future. For now, the demo has established its potential utility. The Libdogecoin project in addition has plans to create “Dogecoin standard documentation, community proof of stake, layer-2 scaling for point of sale, and these radio-enabled nodes.”

The Dogecoin transactions were routed from the regional hub dodgecoin testnet using the Starlink satellite. This initiative is in line with the key objective of the asset according to the Dogecoin Foundation. The Foundation explains that they seek to make Doge a de factor worldwide currency as a medium of exchange. The Foundation also disclosed that it is currently working on other projects to prepare the ecosystem for grassroots adoption. They believe that the project could take advantage of the 1.7 billion people unbanked worldwide. The effort has been lauded by the Dogecoin community.

First Dogecoin transaction without internet, using Radio Dodge. Dodge will reach people who do not have internet access through Radio Dodge.

Dogecoin is currently trading at $0.07 after falling by 15 percent in the last seven days. The recent developments could likely have a positive impact on its price. However, this may depend on the general market performance.

Der Beitrag Dogecoin: Using Elon Musk’s Starlink you can send DOGE offline –  Will it drive price back up? erschien zuerst auf Crypto News Flash.

Twitter owner Elon Musk has reached a decision to step down as the chief executive of the social media company. The move could have a marked impact on the price of Dogecoin (DOGE).

The billionaire stated in a tweet that he will step down and only run the software and server teams of the platform. However, this will only be after he finds someone to take on the CEO role.

His decision came after Twitter users voted for him to step down as Twitter CEO. Exactly 57 percent of over 17 million participants in a poll Musk carried out to help him decide voted yes to have him step down as Twitter CEO.

I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software & servers teams.

— Elon Musk (@elonmusk) December 21, 2022

The price of Dogecoin (DOGE) has reacted to Musk’s announcement, in a way. The memecoin, which is very responsive to Musk’s actions, has plunged 1.58 percent in the last 24 hours, changing hands at $0.073 at press time.

Before now, the DOGE community was rife with speculations that the cryptocurrency project would get integrated as the native crypto of Twitter. With Musk’s influence at the helm, the community anticipated that Twitter’s move to make payments a core part of its operations would involve DOGE. DOGE supporters also expected Twitter to accept DOGE payments for Twitter Blue subscriptions.

Musk’s latest decision may see these hopes shelved. But they may not be completely dispelled as Musk will still play a key role at Twitter as head of the software and servers teams.

Also Read| Elon Musk to be replaced by Edward Snowden as Twitter CEO with a salary in Bitcoin – Will Dogecoin fall?

Musk’s reign at Twitter continues to be controversial.

Musk has owned Twitter for close to two months after completing its purchase in November. During that time, his impact on the platform has been massive and highly controversial.

He started his management by letting go of thousands of Twitter employees that could not meet his strict ultimatums. Musk has also introduced changes around content moderation and user verification that have been the talk of both his critics and supporters on the platform.

Musk introduced $8 payments for subscriptions to Twitter Blue. However, the product which gives subscribers a Blue verification check mark was suspended after it fuelled a spree of impersonation that caused real-world damages in some cases.

Read more| IOTA can help solve blue verification badge issue from Twitter for millions of people

Similarly controversial is his revisiting of the Hunter Biden “Twitter files” saga. Under Musk, Twitter has been releasing the files of the case which were suppressed back in 2020.

Der Beitrag Elon Musk resigns as Twitter CEO – Will it pump Dogecoin price to $0,20? erschien zuerst auf Crypto News Flash.

Over the years, the meme-inspired digital currency has achieved some remarkable feats since its launch. Dogecoin has witnessed different rounds of development, both in terms of network scalability and its token’s utility. However, at its early stage, many industry experts didn’t take Dogecoin as a serious blockchain, as critics noted that the asset is just what it was meant to be a meme token without any tangible value.

However, DOGE experienced a new lease of life when tech billionaire Elon Musk expressed his interest in the meme coin. The Tesla CEO’s numerous actions have helped push the value of Dogecoin and its popularity among crypto enthusiasts. On several occasions, the billionaire has made moves to accelerate the adoption of Dogecoin as a means of payment in several enterprises.

DOGE Outclasses COIN

At the beginning of this year, Musk called on the US fast food giant McDonald’s to incorporate DOGE as a means of payment in its outlets. Apart from that, his electric car manufacturing company, Tesla, has already enabled the use of DOGE as a means of payment for some of its merchandise.

After Musk acquired Twitter, expectations were high in the Dogecoin community over integrating the token into the microblogging platform. So far, the asset attained several milestones last year and has continued its strong performance toward the end of 2022.

Also Read: BREAKING: Elon Musk to be replaced by Edward Snowden as Twitter CEO with a salary in Bitcoin – Will Dogecoin fall?

Amid the market turmoil, most top crypto assets are putting in a good shift on the trading floor to position themselves among the top-performing virtual assets in the market cap. DOGE is currently better than Coinbase’s COIN in market capitalization and ranks eighth. As revealed by CoinMarketCap, Dogecoin’s current market cap stands at $9,939,409,201.

But by comparison, the market cap of the largest US crypto exchange is $8 billion, which is still a commendable achievement. Moreover, it is worth noting that the market capitalization of an asset is the metric that shows the aggregate market for a particular token. With this new milestone, DOGE has shown an unusual growth rate over Coinbase, and if Musk adds the coin to Twitter, it will turn out to be another boost for the popular canine cryptocurrency.

Will DOGE See a $0.20 Price Spike?

Like other crypto assets, DOGE’s value has dropped significantly compared to the end of last year. Furthermore, it has lost about 50 percent  of its value at the start of 2022. However, the asset is still one of the top virtual currencies, and it is expected to get a massive boost following Elon Musk’s acquisition of Twitter.

While the token has struggled to surpass its all-time highs of May 2021, its current performance does not indicate that it will make a strong return in the short term. However, if Musk’s plan to incorporate DOGE as a payment option on the microblogging platform becomes a reality, the Dogecoin community anticipates that DOGE’s price will surpass $0.20 soon. Meanwhile, the meme coin currently trades at $0.074 and is down 4.7 percent in the last 24 hours, per CoinGecko data.

Der Beitrag Dogecoin overtakes Coinbase and is heading to $0.20 – Is now the time to invest? erschien zuerst auf Crypto News Flash.