We all knew that Elon musk has been backing up the dogecoin ever since he invested. But recently he got himself into the Dogecoin more than as an investor. He has been talking to the developers repeatedly in order to improvise the coin. As one of his tweets made an impact in the Crypto community in the name of energy consumption. He himself backs the Dogecoin stating it's far better than Bitcoin.
The dogecoin is found by Ross Nicoll using a basic code he found in Github. The program he used was not even top-notch and it's just another basic script to create a cryptocurrency. Though, the meme coin spreads among the people as the name Doge has always attracted people in the meme templates. Somehow, the coin reached many people spreading throughout the world and becomes very famous next to Bitcoin. The spreading becomes vicious when Elon musk enters. Above all these, it's just technically a basic coin and has no specialty other than its name.
So a set of part-time developers come together to make the coin better. Elon has some thoughts to improve the Dogecoin as he believes the Bitcoin drains considerable energy while mining although many studies backed Bitcoin's less consumption of energy. As the dev team of Dogecoin struggles with a way to improvise the coin, Elon contacts them in the process to improvise the coin and he offered some generosity to the team which was declined by the team politely. Now Elon engages in discussion with the dev team to bring in some new projects and next-gen developers.
Ross Nicoll streaming his twitch while coding in order to engage new people to participate in new projects like Dogethereum bridge and smart contracts. If these new projects brought in, the Dogecoin could grow exponentially as there is a new search for a stable network that involves fewer gas fees. The Ethereum users are now highly subjected to the ethereum gas fees, though the ethereum developers working on Ethreum 2.0 network upgrade which might come out in one to two years. If the Dogecoin team able to upgrade and bring the new projects live before the ethereum upgrade, we can see the Dogecoin skyrocketing in the charts.
Moreover, the rise of cryptocurrency is subjected to the success of upgrades and projects. The Crypto market now demands more than before as the crypto networks grow day by day, the traffic in the network becomes vital and everyone should be prepared for that. The very essential use of cryptocurrency is the decentralized scheme with fast transactions with fewer charges, as any cryptocurrency must comply with these in order to be successful. The future of any cryptocurrency depends on how they are improvising and satisfying the market demand.
