Altcoin

Dogecoin could do a better job at payment than Bitcoin and Ether, says Musk

  • Dogecoin would be a better payment coin than ETH and BTC, says Musk
  • DOGE maximizes base layer transaction rate and minimizes transaction costs
  • The coin only went up by 6% since Elon Musk talked up DOGE’s payment credentials

Elon Musk has come out in favor of Dogecoin (DOGE) again after saying that the cryptocurrency would do a better job at payment than Bitcoin and Ether.

Musk rates DOGE above BTC and ETH

Elon Musk is probably the number one fan of Dogecoin. He has used his influence to talk up the meme coin on various occasions. He has done it again today after stating that he believes that Dogecoin would do a better job at payment than Bitcoin and Ether.

Musk said this while replying to a tweet by crypto YouTuber Matt Wallace. Wallace was expressing his excitement for an upcoming Dogecoin upgrade, which he believes will make it one of the most widely used cryptocurrencies in the world. The Tesla CEO replied to the tweet, attacking the methods used by Bitcoin and Ether.

 

Dogecoin Up By 5%

The tweet by Musk didn’t push Dogecoin’s price higher as it used to in the price. DOGE is currently up by 6.5% and crossed the $0.2 mark earlier today. The cryptocurrency market is currently in a bearish trend, with the prices of most cryptocurrencies down by over 50%.

Dogecoin reached an all-time high of $0.7 earlier this year. However, it has lost roughly 70% of its value since then but remains one of the top ten cryptocurrencies by market cap.

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