Everyone knows by now that Elon Musk has a great fondness for Dogecoin. The man is a fan of memes and Dogecoin naturally fits perfectly with that. After all, Dogecoin once started as a joke. David Gokhstein, the unofficial leader of Shiba Inu, believes that Musk is not just trying to push the price up.
There’s more to it
According to Gokhstein, there is more to Musk’s messages. What Gokhstein sees is someone trying to understand Dogecoin and researching for themselves how people can use Dogecoin. “From my perspective, Elon is trying to figure out how people can use Dogecoin here,” Gokhstein said on Twitter.
Since Musk’s takeover of Twitter, the hopes of the entire Dogecoin community have been pinned on the billionaire. However, the chance seems small that he wants to hang the entire reputation of the platform on the memecoin. The most realistic scenario is that Dogecoin becomes one of the payment options on Musk’s platform.
However, some people see more potential in the acquisition for Dogecoin. “Now that Twitter is owned by Elon Musk, I see a realistic chance of DOGE merging with the platform in some way,” said Cardano founder Charles Hoskinson. He also suggested at the time that Dogecoin should become a Cardano sidechain.
Musk joins in
Incidentally, Musk himself also participates in creating hype around Dogecoin and Twitter. Not long after acquiring the platform, Musk published a post showing his Shiba Inu dog wearing a Twitter shirt. With this, the billionaire seems to clearly indicate that there are at least modest plans to do something with Dogecoin on the platform.
In the end, we just have to see it all. So far, nothing has been done with Dogecoin and Musk’s focus is on improving the platform itself. In particular, making the platform faster and trying to find a solution for the many spam bots that are active on Twitter.
