Cardano Founder Charles Hoskinson Pitches For A Dogecoin Sidechain, DOGE Rallies 100%

31. Oct 2022 Posted by Akolkar B on News

The world’s largest memecoin dogecoin (DOGE) registered a phenomenal rally last week gaining more than 100 % in just seven days. As of press time, DOGE is currently trading at a price of $0.12 with a market cap of $15.5 billion.

This has helped Dogecoin (DOGE) climb two ranks and is currently the eighth-largest cryptocurrency by market cap. It has surpassed some of the strongest altcoins like Cardano (ADA) and Solana (SOL). The recent price rally in DOGE comes as Elon Musk completed the $44 billion acquisition of Twitter last week.

As a result, the Dogecoin community is quite hopeful that Musk will bring DOGE payments to Twitter very soon. However, Musk hasn’t commented anything on this matter after the Twitter takeover last week.

In addition to the Dogecoin community, Cardano founder Charles Hoskinson has come in support for the DOGE-Twitter integration. “Now that Twitter is in the hands of @elonmusk I can see a real possibility that doge will somehow merge with the platform. Dogecoin finally has a use case. If Elon decides to use it for twitter, then there are automatically 200 million users and a usecase. That's a lot more real than memes,” he wrote.

Furthermore, Hoskinson also made an interesting pitch about having a Dogecoin sidechan on Cardano custom built for social networks. As per the Cardano founder, this will help in rapidly expanding the Dogecoin ecosystem.

Hoskinson said that if Dogecoin (DOGE) becomes a Cardano sidechain, he would be doing the integration for free and shall even work on adding smart contracts to the platform.

Note that Charles Hoskinson was once the biggest critic of Dogecoin. However, considering that Elon Musk is an ardent supporter of DOGE, and now that he owns Twitter, the Cardano founder is seeing some potential use-cases for the memecoin.

The interest in DOGE has spied significantly and the memecoin is seen trading at levels not seen over the last few months. DOGE is currently among the top cryptocurrencies with highest trading volumes at the exchanges.

Along with the Cardano founder other players have also expressed interest working with Elon Musk. Recently, crypto Binance said that they are willing to work with the Twitter board to address the bots issue by leveraging the power of blockchain.