Altcoins News
By Sydney TheCMO
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Tesla CEO Elon Musk has been frowned upon by the crypto community but it looks like he is trying to redeem himself this week through upbeat tweets including revealing his stance…
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Musk revealed that he prefers Dogecoin over other cryptocurrencies such as Bitcoin, ADA, ETH, Polkadot, and more in a tweet responding to YouTuber Dave Lee.
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Elon Musk calls on Dogecoin’s further development
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Elon’s support for the cryptocurrency transcends beyond its meme status. He sees genuine utility in the coin for transactions mainly thanks to its affordable price and a strong…
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Ross noted that Musk has contributed to higher transaction throughput and that his ideas highlight the next obvious steps for the cryptocurrency.
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Why Elon thinks that Dogecoin’s meme status is a good thing
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It seems unusual that a tech genius and billionaire like Elon Musk would pick a speculative meme coin over other more developed cryptocurrencies like ETH, Cardano, and others.
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Perhaps Elon believes that Dogecoin has a better chance at gaining mainstream adoption through the meme status than other coins.
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