Elon Musk is a powerful name in the world of entrepreneurship. Everyone is aware that he has been supporting DOGE for a long time on Twitter. His words reveal his knowledge and experience. Click this image below to start your bitcoin journey.
Musk’s Announcements Have An Impact
His latest tweet announced that SpaceX, his space exploration company, would accept DOGE coins as a mode of payment.
The tweet was so effective, that readers acted immediately! DOGE’s value increased by 10%.
To illustrate, it had reduced in value, by 6.14%. Then, after Musk’s tweet, which announced that all of Tesla’s products/services could be paid for with DOGE, the pricing went up by almost 9 cents. Thus, DOGE’s end-of-the-day-price was $0.0814.
Star Link Memberships Became a Reality
Star Link refers to a broadband Internet system, which is satellite-based. This system would work in rural and remote areas across the globe, too. The pathway of communication would be extremely rapid, and with a low latency broadband Internet in place. When the project gets going, users will be able to pay for Star Link memberships with the meme coin.
Mission to the Moon is For Real
SpaceX had already caught the imagination of the public in 2021. It was because of a significant announcement, DOGE-1 Mission to the Moon, to be launched in the early months of 2022. Whoever desired to be part of this mission, could pay with DOGE coins.
However, what is DOGE-1?
It refers to a cube satellite weighing 40 kg. This satellite would fly in the form of a payload on a Falcon 9 rocket, according to the announcement by the Geometric Energy Corporation.
Musk is Dogefather
Yes, indeed, that is what Elon Musk claims to be! It is because his statements create a heavy impact on the minds of the readers.
For instance, it is no secret that Musk wishes to take over the Twitter platform. Readers were happy and contributed as much as they could to make his tweets even more popular. It is because of this that DOGE, the meme coin, claimed a spot in the chart listing the top 10 cryptocurrencies. This list was focused on the market capitalization of various digital currencies. Each had a market cap going into billions.
Musk’s Style of Working
In February 2021, Tesla acquired $1.5 billion worth of Bitcoin. After acquiring it, Musk tweeted about it in an extremely enthusiastic manner. He did not fail to point out Bitcoin’s journey to the top. There was mention of it being amongst the top three digital currencies too, specifically via market capitalization. Thus, Bitcoin acquired many more fans!
Later, Tesla received praise for halting the acceptance of Bitcoin for purchases of Tesla merchandise. Why? Musk had heard about the excessive use of energy for Bitcoin mining, and the heat is generated. In other words, the environment was taking a severe beating, and concerned activists were protesting. Musk joined them.
Today, Tesla is eager to reconnect with Bitcoin. People will be allowed to use BTC coins as a mode of payment. However, miners must promise to utilize at least 50% of clean energy during the mining process.
Special Features of Dogecoin
DOGE is a peer-to-peer digital currency or meme coin. The coin launched as a parody of Bitcoin and other cryptocurrencies. However, it has become highly popular over the years. Here’s why.
- DOGE is not governed by ‘maximum supply’ as other virtual currencies are. It is left to the miners to decide how many DOGE tokens they wish to create every day. After all, they must know how much they desire to earn per block!
- The meme coin operates on a decentralized platform, ensuring that all security measures are in place. Therefore, transactions go through safely.
- Blockchain technology comes into play. As a result, there is a secure, distributed, digital ledger in place. It records all the transactions that take place on the network. It also stores them safely, ensuring that there is no manipulation from outsiders.
- Cryptography suffices for securing all the transactions on the Dogecoin network.
These are but a few features of the meme coin. Like every other cryptocurrency, it has its pros and cons. However, anyone, wishing to enjoy returns from short-term investments, may choose Dogecoin/DOGE without hesitation.