Charles Hoskinson invites Dogecoin to migrate to Cardano for free
Cardano founder Charles Hoskinson says Dogecoin should become a Cardano sidechain and is willing to help the meme coin migrate for free.
Charles Hoskinson made this statement in response to a tweet asking what would happen to Dogecoin after Elon Musk bought the social media platform Twitter.
According to Hoskinson, there is a possibility of DOGE merging with Twitter. When asked if the meme coin would be converted to a proof-of-stake network, he said so:
“(Dogecoin) should be a Cardano sidechain. I would do the migration for free. Hell, I’ll even add smart contracts.”
This statement is consistent with his previous views that Cardano will be the network of blockchains with multiple sidechains connected to it.
Speculation over Dogecoin after Elon Musk bought Twitter
Elon Musk was largely responsible for the rise of the meme coin after promoting it in several tweets. He also made it a medium of exchange for Tesla’s goods.
Before buying Twitter, there were reports that Elon Musk was planning to support the use of Dogecoin on the social media platform. The speculation surrounding a potential integration increases with his acquisition of the company.
Although Tesla CEO Elon Musk has already made some changes on Twitter, he has yet to announce his actual plans for the social media platform.
Tech blogger Jane Manchun Wong too claimed that Twitter is working on a prototype wallet that supports crypto deposits and withdrawals.
DOGE Price performance
Since Elon Musk took control of Twitter, Dogecoin has rallied, gaining 44.3% over the past seven days and trading at $0.085692. The DOGE bull rally is based on the anticipation of what Musk would do with Dogecoin now that he is in control of Twitter.
DOGE’s trading volume in the last 24 hours is $3.8 billion, which shows that many traders are currently buying into it. The current rally has pushed it back into the top 10 cryptocurrencies by market cap.
Meanwhile, Cardano ADA is also up 5.2% in the last 24 hours and 16.1% in the last seven days. ADA has rallied following the broader market’s recent rally.
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