As a result of Elon Musk’s public backing for Dogecoin, the joke currency went on one of the most amazing crypto markets rises ever seen in history. In spite of the recent decrease in its value, the billionaire has reiterated his support for cryptocurrencies and has said that he would not be selling any of the tokens he already has.
In addition, Musk has supported a number of initiatives aimed at bringing cryptocurrencies to a wider audience. Billy Markus, the man of Dogecoin, recently made a recommendation that billionaire Mark Zuckerberg does not agree with.
Almost all of the main blockchain initiatives in the sector are looking to connect to the Ethereum network. To be sure, Ethereum’s widespread network use and high stakeholder buying power make it a top choice for smart contract platforms. Co-founder Billy Markus of Dogecoin echoed this sentiment when he made a number of recommendations to make the joke currency more useful.
Markus had suggested a Dogecoin-Ethereum bridge, which Musk strongly objected to, despite the fact that he agreed with most of the changes. A cryptocurrency-to-web3 bridge has been proposed by Markus in an attempt to do this. Using a web 3 wallet and dogecoin tokens would make it possible to interact with a website and utilise the digital asset.
Allowing the token to be widely used in the production, purchase, and sale of NFTs would further increase its usefulness.
The Dogecoin-Ethereum bridge was opposed by Musk, who said it “isn’t required.” Doge-Ethereum bridges make sense, but the “Dogefather” himself seems to be opposed to them.
Doge’s popularity is on the rise
Dogecoin’s popularity alone has led to its acceptance in a number of locations throughout the world. Businesses have mostly sought to take advantage of its vast user base, which is continually searching for new methods to assist support the meme coin’s development.
These include a Miami church that just declared it will begin collecting Dogecoin contributions. It was announced on Twitter that the First Miami Presbyterian Church in Florida will be the first to take Doge contributions in response to Elon Musk’s joyful Easter post.
TradingView.com reports that DOGE has recovered to $0.13 per token. “Donate with Dogecoin” is written over the Doge sign in the backdrop of a photo taken by the church’s pastor, Christopher Benek.
It’s a good sign for the Doge community, which expects the meme currency to be one of the payment alternatives on Twitter if Musk’s proposal to acquire the social media network is approved by the board.
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