It seems that Elon Musk, the richest person on the planet, is very serious about his obsession with the cryptocurrency meme Dogecoin (DOGE).
After days of non-stop DOGE memes, Musk is now talking about the technical viability of Dogecoin in a more serious tone. In a recent tweet, he took a chance on Bitcoin’s possibly deflationary monetary policy to make the case for the Shiba Inu-inspired crypto:
Doge seems to be inflationary, but that doesn’t mean it is (it remains # of coins per unit of time), whereas BTC is arguably deflation by mistake.
He also noted that Dogecoin is “several orders of magnitude faster” than crypto’s Big Daddy.
Dogecoin returns to the top 10
The cryptocurrency Jokes Dogecoin (DOGE) returns to the top 10 on CoinMarketCap (CMC) after surging to $0.0873 on February 7.
That’s a far cry from beating the previous all-time high of $0.0875 which was set after the cryptocurrency surged more than 1,100 percent in just one day.
The ‘Doge’ meme coin is now on top of the Rover Ver-backed Stellar (XLM) and Bitcoin Cash (BCH).
The rise of Dogecoin is undoubtedly a testament to the power of Elon Musk’s Twitter. The centibillionaire who led Tesla and SpaceX returned to Twitter to tweet about DOGE last week, sending tokens through the roof.