On Sunday, Dogecoin DOGE/USD co-founder Billy Markus tweeted out three steps that would add utility to the memecoin.
A wider adoption of DOGE by the business community, making the crypto an option for tips and bridging Dogecoin with Ethereum ETH/USD would all help, according to Markus. Tesla Inc TSLA CEO Elon Musk responded and said that he agreed with two of the suggestions, but the third was not necessary.
First one definitely, second is nice to have and third isn’t needed imo
— Elon Musk (@elonmusk) April 24, 2022
Markus replied, telling Musk why he thought an Ethereum-Dogecoin bridge would be helpful.
yeah – personally i see web3 as a developer playground which is why i support it, tho i also think it’s not named properly as i don’t think it’ll take over the web, i think it’s more just like “log into some things with your crypto wallet + track virtual goods”
— Shibetoshi Nakamoto (@BillyM2k) April 24, 2022
Dogecoin has been in a slump lately, Benzinga’s recent chart analysis finds the memecoin in a relatively tight range as of late.
Meanwhile, Steve Gregory, the CEO of cryptocurrency and tokenized asset exchange Currency.com, said the firm is seeing a gradual shift from its users holding Bitcoin BTC/USD towards meme coins such as Dogecoin and Shiba Inu SHIB/USD.
Price Action: On Sunday afternoon, Dogecoin was trading at $0.1321, down 2.39% in the past 24 hours, according to Benzinga Pro.