Elon Musk has published a new theory about Dogecoin

Elon Musk

The price of Dogecoin also went up, after falling below an important psychological mark in early July – $ 0.17.

Tesla billionaire and CEO Elon Musk shared the theory that Doge is not a speculative asset, but one that can bring money. He published a meme stating that Dogecoin is money:

In addition, Elon Musk was one of the guests at the Crypto Council for Innovation event, where he spoke again about ideas that were previously used to upgrade Dogecoin with Ethereum. It is about reducing transaction costs and achieving maximum transaction speed.

According to CoinDesk, Dogecoin now costs $ 0.22. The digital coin has risen in price by almost 17%. The cryptocurrency meme set a historic record in May, soaring to $ 0.74. Since then, Doge has fallen in price by 75%. Despite the sharp collapse, this digital coin has risen in price by 6000% over the past year.

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