Last Friday, in a podcast with AI (artificial intelligence) researcher Lex Friedman, Hoskinson, who is also the creator of Cardano, a public blockchain platform, said he expected an agreement that real developers could come up with and find some use for it. And can work on Doge to build the utility. “So at least it has a value floor and it won’t collapse.” Hoskinson said in the podcast. INR in last 6 months Dodgecoin price in (Indian Rupees) It has been extremely volatile and investors cannot be sure how long the current price will last.
He also said that it could take between two and three years for Dodgecoin which was once a parody digital currency to function as a modern cryptocurrency. Hoskinson was also not against the idea of a collaboration between Cardano and Dodgecoin. They were saying that working together would be great fun. But he also cautioned that the Tesla CEO’s influence on DodgeCoin’s value could someday cause significant losses to retail investors if the currency’s code-base is not improved.
Musk, on the other hand, has single-handedly dominated the digital currency space and now has the power to influence their value with his tweets.
Earlier this month the CEOs of Tesla and SpaceX Tweet Did: “I found this childhood picture.” The picture included a picture of an old computer and other gadgets and was enough to push DodgeCoin’s value up by 15 percent.
In March, Tesla began accepting bitcoin as a payment mode for car sales. But two months after that, in May, he suspended the purchase of this cryptocurrency. Musk expressed concern over the increasing use of fossil fuels used by bitcoin mining and decided that the company would no longer accept the digital currency as a form of payment.