Tesla CEO Elon Musk can’t stop tweeting about the popular altcoin Dogecoin (DOGE), even on his birthday. After the sharing of Elon Musk, the DOGE price saw a sudden jump.
Elon Musk tweets about popular altcoin Dogecoin even on his birthday!
Tesla CEO Elon Musk does not stand still and shares about the popular altcoin Dogecoin. Elon Musk expressed his support for a proposal that will significantly change Dogecoin’s fee policy. The proposal, published on Github by Liberate Inc CEO Patrick Lodder, suggests that the current proposed 1 DOGE fee discourages on-chain transaction activity. Patrick Lodder points out that trading with Dogecoin is currently five times more expensive than trading with Litecoin.
Patrick Lodder also adds that people are reluctant to remove their assets from exchanges because the perceived depreciation is so high. That’s why Patrick Lodder proposes to reduce the default block inclusion fee rate to just 0.01 DOGE. Patrick Lodder adds the following to his explanations on the subject:
This proposal for all Dogecoin stakeholders proposes to reduce the average fee by 100x for standard transactions on the DOGE chain, share full control over all aspects of the feedollarserin between miners and node operators, rely less on core development, and restore a functional (small) free transaction.
Elon Musk believes Dogecoin can win against Bitcoin! price jumped
As we have previously reported as , Elon Musk stated that DOGE can surpass Bitcoin in the past weeks and listed the necessary conditions for this. In addition to making the series 100 times cheaper, the entrepreneur’s grand plan also includes speeding up Dogecoin’s block time and increasing the block size by 10 times.
Some Bitcoin users did not find Elon Musk’s discussion of large scaling logical and do not believe that DOGE will surpass BTC. After Elon Musk’s latest DOGE shares, the price moved again and went up from $0.24 to $0.267. These figures show that the altcoin price is experiencing a 12 percent rally.
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