bitcoinBTC/USD
$ 20,099.00
ethereumETH/USD
$ 1,131.50
tetherUSDT/USD
$ 0.999846
cardanoADA/USD
$ 0.455306
xrpXRP/USD
$ 0.32365
usd-coinUSDC/USD
$ 1.00

“Dogefather” Elon Musk Supports Dogecoin Update

"Dogefather" Elon Musk Supports Dogecoin Update

The Tesla billionaire, Elon Musk, is a well-known crypto advocate, especially of Dogecoin, the meme-based cryptocurrency. Although he kept his distance from crypto during the last months, now he is back to support it.

Crypto Prices on the Rise Thanks to Elon Musk

The meme coin skyrocketed this year, gaining about 10,000% since October last year, and getting a place among the 10 biggest cryptos. It needs to be mentioned that Musk’s Twitter persona played a great role in it.

On the other hand, Bitcoin also gained about 400% over the last year, another crypto owing its price going up to Musk. Much of this rise was fueled by the announcement that Tesla had purchased $1.5 billion worth of Bitcoin at the start of the year.

Elon Musk Twitter Support

The Tesla billionaire is again using Twitter to remain involved with the crypto sector. He responded to a thread started by Billy Markus, regarding dogecoin miners keeping their software updated. Musk expressed his agreement with a thumbs-up emoji.

Markus, one of the co-creators of Dogecoin, got to Twitter to elaborate on the Dogecoin upgrade and emphasize the need for mining pools to update.

They could run a node or not, started Markus, however, he advised miners to be fully invested in running a secure and full node and to make sure that they keep it up to date. He is not urging everyone to run a node, yet if they truly want to help the system then they need to do it the right way. It is essential for the success of 1.14.4 for node operates to update, concluded Markus.

This latest dogecoin update was launched in August and includes performance improvements as well as prepare the network for lower recommended fees. 

Musk was among one of the main encouragers pushing people to update their software so there are lower dogecoin transaction fees. This can be seen as part of the plan to beat Bitcoin.

Doge fees should be dropped so things like getting movie tickets becomes possible, said Musk on Twitter.

The billionaire also announced his collaboration with dogecoin developers with the purpose of making the system transaction more efficient.

Frequent Price Swings Because of Musk

Musk’s comments related to the meme coin almost always help with its price, however, this time it wasn’t that successful. While it did cause a price change, however, it was not a big one worth mentioning.

The peak of the dogecoin price was in May prior to Musk appearing in Saturday Night Live, unfortunately, it has lost about 70% of its value since that time.

Bitcoin and Dogecoin are not the only ones to witness price swings because of Musk. Just recently, SHIBA INU benefited from him and has now far higher gains compared to the beginning of the month. It all happened with Musk uploading a picture of his Shiba Inu dog which made the price of the coin with the same name go up.

In the meantime, Bitcoin prices kept rising, surpassing $58,000 for the first time since the May crackdown in China.

Also Read: Dogecoin Price Prediction October 2021: Will DOGE Reach $1 In October?

 

Also read:

Related News

LuckyBlock is a worldwide game and competition platform with play to earn rewards using blockchain protocols. They have already given many prizes to the participants of the game.

Lucky Block Partners with Crypto Academy

Lucky Block has partnered with Crypto Academy, as we look forward to many updates and launches ahead.  Lucky Block has reached a partnership with Crypto Academy, the renowned Crypto Marketing Agency, and Informational and Educational portal. With an incredible success rate in helping cryptocurrency-focused startups grow in the industry, the partnership with Crypto Academy is a stepping stone in the exciting journey ahead for Lucky Block. LuckyBlock is a worldwide

Read More »
The withdrawal limit for traders has been temporarily lowered by cryptocurrency-backed loans provider CoinLoan.

The Withdrawal Limit Temporarily Reduced by CoinLoan

The withdrawal limit for traders has been temporarily lowered by cryptocurrency-backed loans provider CoinLoan. The corporation cited the present market crash as the reason for the decision. Due to the change, customers are now limited to a $5,000 maximum withdrawal limit each day. In their announcement, they noted the following: “the interest we pay on the Interest Accounts is yielded by issuing overcollateralized loans to other platform users. Hence in some

Read More »
The price may perhaps clear the $1,200 obstacle above the next significant resistance, which is located close to the $1,180 zone.

New Surge in Sight As Ethereum (ETH) Gathers Momentum

Following a period of stability at $1,000 versus the US Dollar, Ethereum (ETH) enters a new uptrend. Above the $1,150 barrier level, Ethereum (ETH) can move much higher. Near the $1,070 region, the pricing was able to overcome a few significant obstacles. Even the 61.8 percent Fib retracement level of the significant decline from the swing high of $1,235 to the low of $997 was tested by the price. The

Read More »

My Coins

bitcoinBitcoin
$ 20,099.003.15%
ethereumEthereum
$ 1,131.503.92%
cardanoCardano
$ 0.4553061.45%
tetherTether
$ 0.9998460.13%

Newest Videos on YouTube

We inform and educate people about Cryptocurrencies and Blockchain technology.

© Copyright 2021, All Rights Reserved,
Crypto Academy

Bitcoin

Contact Us

For any question conatct us through:

sales@crypto-academy.org

Disclaimer: All information and materials on this website are for educational purposes only. Crypto-academy.org does not provide any form of financial advice. Cryptocurrencies are highly volatile, therefore any form of investing carries a high level of risk to your capital. It is recommended that you seek professional advice prior to implementing any investment or financial plan.

We do not ask you for your Cryptocurrency / We do not hold your Coins / We do not ask for Private Keys / Be aware of scammers and imposters.

Contact us only through: sales@crypto-academy.org