Dogecoin, according to Elon Musk, is capable of being a currency

Dogecoin, according to Elon Musk, is capable of being a currency ...

Elon Musk is a strong supporter of cryptocurrency and has been very open about it. He is especially interested in Dogecoin and has supported it once more in a recent tweet.

Since Elon Musk began tweeting about Dogecoin, it has dropped to around 8 cents in this recent crypto fallout, but there is still hope in the Dogecoin community.

The meme coin is named after a popular meme called Doge, a happy dog, because dogs make everyone happy. Shibetoshi Nakamoto, the creator of Dogecoin, never expected the coin to reach the level of market cap it has today, but he is no longer involved in the project.

Elon Musk joined in on Twitter, the platform he is currently buying, and he was quick to respond to the tweet. Musk said dogecoin has potential as a currency.

Shibetoshi Nakamoto: The reason I like dogecoin is because it knows it is stupid.

Musk believes it has the potential to become a currency.

When the report of Musk buying Twitter was discovered, Dogecoin recently experienced a spike. However, dogecoin has taken a due crypto market crash. The market is no stranger to fluctuations. Once the coin value returns, it will not be able to recover.

Elon Musk has indicated that he would allow Twitter users to pay via Dogecoin for a premium service once Musk takes the platform private. It will certainly be a sight to witness as Musk enters power over Twitter. In the meantime, Dogecoin supporters will remain silent in the hopes that their favorite coin will go to the moon.

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