Elon Musk: Dogecoin can become money

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Dogecoin has the potential to become a currency sure Tesla and SpaceX CEO Elon Musk. So he responded to the post of the creator of the altcoin Billy Marcus, writes RBC Crypto.

According to Marcus, he likes Dogecoin because the token “knows it’s meaningless.”

Over the past day, the “meme” cryptocurrency has risen in price by 18%, to the current levels of about $0.09. The altcoin is recovering from the market crash on May 12, as a result of which the price of bitcoin fell to a low of $26.7 thousand since December 2020. Dogecoin continues to trade 88% below the all-time high of $0.73 set in July 2021.

In April, the price of altcoin soared by 33% per day after Elon Musk signed a deal to buy Twitter for $44 billion, or $54.2 for the company’s security.

Musk is a strong supporter of Dogecoin. He often mentions cryptocurrency in his tweets, and in January called on the fast food chain MCDonald’s to start accepting it as a means of payment.

Also at the beginning of the year, Tesla added Dogecoin as a payment method for its accessories. To make a purchase in the Tesla store, the customer needs a Dogecoin wallet. Items purchased with cryptocurrencies cannot be returned or exchanged.

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Source: Cryptocurrency

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