Elon Musk
Elon Musk

Elon Musk tweets about the necessity of lowering Dogecoin fees.

Elon Musk
Elon Musk

Tesla CEO, Elon Musk tweeted about the necessity of lowering Dogecoin handling fees so that it can be widely used in retail purchases. The tweet was in reply to Dogecoin creator Shibetoshi Nakamoto. Given the fact that Musk is an unsung hero of Dogecoin, this tweet has also managed to ruffle some feathers. Here is the tweet.

The What and Why

In the current scenario, where cryptocurrency is gaining widespread popularity despite the persisting skepticism of its viability, it cannot be denied that crypto does hold some promise for the future. With major companies adopting crypto for payments, the credibility factor is also boosted to a certain extent.

Nakomoto’s tweet underscores this point furthermore as he talks about various companies embracing Dogecoin. Perhaps it is actually true that what started as a joke has come to be the most serious joke ever. Nakomoto’s tweet also emphasized the popularity of Dogecoin by stating the example of the Twitter poll conducted by AMC CEO, Adam Aron. The poll was set up in an attempt to discern whether the crypto community wants the company to begin accepting Dogecoin as well in addition to Bitcoin, Bitcoin Cash, Litecoin, and Ether.

Adam Aron
Adam Aron

“I sincerely want to hear your opinion, via this Twitter Poll. By year end-2021, AMC will take Bitcoin, Litecoin, and Bitcoin Cash for online payments. I hear from many on my Twitter feed we should accept Dogecoin too. Do you think AMC should explore accepting Dogecoin?” said the tweet.

The Tweet was met with an overwhelming response from the crypto community to the extent that it became the most interacted the AMC CEO has ever made. This explains to a great extent the levels of influence Dogecoin exercises among the crypto community and its potential to become the face of the future. Another highlight was the fact that Elon Musk himself liked the tweet adding more weight to the situation. After all, it is an unwritten yet widely accepted fact that Elon Musk is a very important advocate of DOGE.

The poll results showed a total of 68 percent in support of the cause, while 23 percent were supportive but reluctant to use it as a payment method. Only 23 percent was against the company accepting Dogecoin for payment. As a result of all this, Dogecoin rose by 8 percent which is rather commendable. Someone shakes the crypto boat and the largest impact is always borne by Dogecoin.

Musk and DOGE

There is no need for a further mention of the Musk-DOGE combo. The Tesla CEO has been a major force behind the roller-coaster ride of Dogecoin. Let us not forget the positive impact Musk had on Dogecoin when he made an announcement stating that he is working towards “improving system transaction efficiency.” However, it seems like even in crypto the law of gravity applies. Because as Dogecoin takes up the high hill with every tweet from Musk, Bitcoin takes a slump. Bitcoin’s fortunes were reversed for the worse when the Tesla CEO announced through a tweet that the company has decided to not accept BTC payments.

Talking about tweets and how it changes the beat, Musk’s reply to Nakomoto’s tweet has also caused some considerable impact. In his response, Musk stated the need to lower Dogecoin handling prices so that it could be widely used for retail purchases. If that actually happens, then we can buy even movie tickets with the meme coin. As usual, Musk’s tweet was met with overwhelming responses from the crypto community. Let us take a look.