It appears that Elon Musk, the richest person on the planet, is dead serious about his obsession with meme cryptocurrency Dogecoin (DOGE).
After days of non-stop DOGE memes, Musk now talks about Dogecoin’s technical viability in a more serious tone. In a recent tweet, he took a shot at Bitcoin’s presumably deflationary monetary policy to make a case for the Shiba Inu-inspired crypto:
Doge appears to be inflationary, but is not meaningfully so (fixed # of coins per unit time), whereas BTC is arguably deflationary to a fault.
He also notes that Dogecoin is “a few orders of magnitude faster” than the Big Daddy of crypto.
Dogecoin is back in the top 10
Joke cryptocurrency Dogecoin (DOGE) is back in the top 10 on CoinMarketCap (CMC) after soaring to $0.0873 on Feb. 7.
It was a hair’s breadth away from beating its previous all-time high of $0.0875 that was set after the cryptocurrency soared over 1,100 percent in just one day.
The ultimate meme coin is now above Stellar (XLM) and Rover Ver-backed Bitcoin Cash (BCH).
Dogecoin’s revival is undoubtedly a testament to Elon Musk’s Twitter power. The centibillionaire at the helm of Tesla and SpaceX made a return to Twitter to tweet about DOGE last week, which sent the token through the roof.