Tesla CEO Elon Musk explains why the popular altcoin Dogecoin (DOGE) will surpass Bitcoin and Ethereum after the big upgrade. The billionaire claims that Bitcoin and Ethereum are too slow and expensive to cope with Dogecoin’s massive upgrade.
Elon Musk: Popular altcoin DOGE will surpass Bitcoin and Ethereum!
Tesla CEO Elon Musk has once again weighed in on the cryptocurrency scaling wars. In a recent response to a tweet by famous Dogecoin community member Matt Wallace, the billionaire claims that both Bitcoin and Ethereum have slow and expensive base layers. Therefore, they need a multi-layered transaction system to function properly.
Meanwhile, Dogecoin is poised to maximize the speed of base layer transactions while minimizing the series of costs. Cryptocoin. com, Elon Musk recently expressed his support for the dramatic meme cryptocurrency proposal for a fee cut for scalability. Elon Musk’s latest opinion has been met with some harsh criticism within the cryptocurrency community. Bitfinex CTO Paolo Ardoino jokingly suggested that the billionaire should build the rocket with “spit and paper” to make it cheaper.
The price of crypto money jumped after Elon Musk’s shares
The price of crypto money jumped after Tesla CEO Elon Musk’s shares. DOGE went up from $0.196 to $0.218. These figures indicate an 11 percent increase in the altcoin project.
The new largest cryptocurrency DOGE is trading at $0.217, up 2.6 percent at the time of writing. The popular altcoin currently has a market cap of $28.4 billion. DOGE manages a trading volume of $2.2 billion in the last 24 hours with market capitalization at the time of writing.
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