Tesla CEO Elon Musk has tweeted that he plans to boost the Dogecoin’s efficiency and spur further development efforts.
Musk said that he’s working with currency developers in what could be a “potentially promising” move for $DOGE.
Nevertheless, Musk’s company, Tesla, turned down previous speculation that it would accept Dogecoin as a viable currency to purchase vehicles with, even though the company already accepted payment to carry out a lunar payload mission in 2021 in $DOGE.
The latest round of endorsement put forward by the maverick entrepreneur sent the price of the coin up 26% from $0.38 to $0.48 and coincided with an announcement that Coinbase will also start accepting the cryptocurrency.
Musk dismissed $DOGE as a viable payment candidate for Tesla vehicles as he explained that the company would look into cryptocurrencies that use less of 1% of Bitcoin’s energy consumption to operate.
With Coinbase CEO Brian Armstrong confirming that Dogecoin is coming to Coinbase within the next six or eight weeks, the currency’s outlook is promising.
If you are keen to start using Dogecoin yourself, you can do so by visiting one of the available crypto casinos that support the $DOGE, including 1xBit, BitStarz and FortuneJack.
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