Following the news that Elon Musk had taken over Twitter, the price of Dogecoin experienced a substantial increase. According to reports, Dogecoin surged 124% in the last week, taking the top spot on Robinhood’s list of top gainers.
Cardano founder Charles Hoskinson thinks there’s a chance that Dogecoin will converge with the social media platform in the wake of Elon Musk’s takeover of Twitter.
“Now that Twitter is in the hands of @elonmusk I can see a real possibility that DOGE will somehow merge with the platform.”
Members of the Dogecoin and Cardano communities responded to the tweet in large numbers. The idea of the cryptocurrency and Twitter merging has excited a lot of DOGE supporters. However, some Cardano investors appear dissatisfied that Hoskinson is supporting DOGE rather than ADA. They requested Hoskinson to push ADA to join Twitter.
Whether Hoskinson believes Dogecoin will switch to a Proof-of-Stake (PoS) or Proof-of-Useful-Work (PoUW) algorithm was a question posed by one of his followers.
In response to the user, Hoskinson suggested that Dogecoin be added to the Cardano sidechain. The head of Cardano promised to carry out the migration himself, free of charge. Hoskinson promised to include smart contracts as well.
The Elon Musk effect
Following Elon Musk’s eagerly anticipated acquisition of Twitter, the Twitter ecosystem, particularly the cryptocurrency industry, had reason to rejoice yesterday. Twitter’s previous owner has been marked by discord, a ban on user accounts, and bots that have tarnished its reputation.
And the crowd had to “let that sink in” for a moment before Elon Musk eventually sealed the deal the following day and entered Twitter’s offices carrying a kitchen sink. Investors in Dogecoin think that after Musk’s Twitter acquisition, the cryptocurrency will merge with the social media site. Musk has consistently pushed for the acceptance of Dogecoin.
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Source: https://coinpedia.org/opinion/dogecoin-will-some-how-merge-with-twitter-says-cardano-founder/