Elon Musk Praises Dogecoin (DOGE) Cryptocurrency

Elon Musk praises the Dogecoin cryptocurrency, highlighting aspects such as its inflationary design and causing a notable rise in its value.

Elon Musk praised the decrease in the inflation rate of the Dogecoin cryptocurrency, highlighting that it is a key feature of its design.

The price of $DOGE increased by 9% after a casual mention by Musk on a podcast, demonstrating his influence over the market.

The Dogecoin cryptocurrency has been the center of attention this week. A good part of the “blame” was the weakness that a personality like Elon Musk once again demonstrated about the asset. $DOGE is one of the most popular memecoins at the moment, and almost a week ago, Musk praised the decrease in the asset’s inflation rate. So much so that he described it as a feature and not a bug. These statements came in response to $DOGE co-founder Billy Marcus, who explained how the developers are busy adjusting the tokenomics of the project.

The Dogecoin cryptocurrency and Elon Musk: a close relationship Virtually anyone interested in the price of the Dogecoin cryptocurrency knows that the asset initially emerged as a joke. We are talking about the year 2013, and since then it has already been recognized as one of the reference currencies in the crypto market. So much so that it currently occupies the seventh position in market capitalization. Only surpassed by other currencies such as ETH or BTC.

The theme of $DOGE is directly related to the Shiba Inu dog. But a large part of the blame for its success is the direct responsibility of the community, which has greatly helped keep the project of one of the best memecoins afloat during the last few years.

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