Tesla CEO Elon Musk talked about cryptocurrencies another time. He shared his opinion on Bitcoin, Ethereum, and Dogecoin, mentioning the advantages of the last one.
Reminder: The Dogecoin update is coming soon! It will position Doge perfectly to become one of the most used currencies in the world.— Matt Wallace ⚠️ (@MattWallace888) July 9, 2021
Tesla CEO says these leading cryptocurrencies pursue a multilayer transaction system.He finds it will be advantageous for DOGE to maximize base layer transaction rate & minimize cost with exchanges being used as layer 2.
After the tweet, Dogecoin's price has seen an increase. Currently, the meme token trades at around $0.2. It ranks six, having a market cap of about $28.2 B. SkyBridge Capital CEO Anthony Scaramucci also supports Dogecoin. In May he said DOGE may become silver to bitcoin gold.
Currently, the meme token is about 70.5% down from its all-time high of $0.73 reached on May 8.