The latest hype of Dogecoin, due to a 100% increase in DOGE’s price just in a week during Elon Musk’s completion of the Twitter contract, has put a great impact on the perception of the community about the token. Charles Hoskinson, the founder of Cardano, hurried to comment on the subject for another time. He additionally proposed to develop a unique version of the chief memecoin on Cardano.
Charles Hoskinson Corrects His Perception of DOGE after Musk’s Twitter Takeover
Nearly eighty percent of the voting was supporting, but this proposal was not liked by everyone, especially Billy Markus (the chief meme coin’s creator). As per Markus, the founder of Cardano has made a hypocritical offer, as he was formerly against Dogecoin. In April previous year, Hoskinson also made a video where he referred to DOGE as a bubble in very harsh words. On having the question from Markus regarding Dogecoin hatred, Hoskinson replied that there is a use case for the token finally.
He added that after the arrival of Elon Musk on Twitter, approximately 200M people would automatically utilize DOGE, making it an actual use case. Nonetheless, in the opinion of the Dogecoin founder, that does not matter yet. In his recent tweets, Hoskinson has additionally claimed that Dogecoin should be integrated by Twitter as a sidechain of Cardano. The Cardano founder has offered to carry out the migration without any fee. According to Hoskinson, he would have the ability to include smart contracts also.
Hoskinson considers that a great possibility lies ahead for the biggest memecoin to have integration with the venue somehow. It was reported earlier that Elon Musk (the CEO of Tesla) took Twitter under his control on the 27th of October after purchasing it in return for almost $44B. Dogecoin’s price rallied subsequently as the social media giant’s new in charge was Elon Musk. The Tesla CEO has reportedly signalled that DOGE – the crypto token which he promoted frequently – would become Twitter’s part under his lead.
Nevertheless, no specific strategy has yet been specified by him in this respect. While the contract of Twitter is being celebrated by the Dogecoin community, several onlookers think that with this ownership it will become additionally convenient to spread falsehood as well as aim at marginalized groups with incitement of hatred on the platform because of the loose moderation policies.
DOGE Outpaces ADA after a Long Skirmish
After a long skirmish between Dogecoin and Cardano, it seems that ADA has been outperformed by DOGE. This has been seen in the ranking of CoinMarketCap for the biggest crypto assets in terms of market capitalization. The main reason for this is the recent price elevation of Dogecoin. Nevertheless, an increase has also been witnessed by ADA during the previous week. As a result of that, the crypto token witnessed an upsurge of nearly seventeen percent at the week’s end in comparison with its price at the beginning. At the moment, the distance between these 2 projects’ capitalizations is nearly $2.4 billion.