Elon Musk is clearly promoting DogeCoin as the next big cryptocurrency. He has previously said that he would enjoy the irony of a joke cryptocurrency being the next main payment coin. DogeCoin, on the other hand, has several problems at the present.
These faults are mainly due to the fact that the coin was created as a joke. It isn't particularly eco-friendly, it has an infinite supply, which is bad for any money, and the APIs it employs may be obsolete. This, however, may change.
Elon Musk will collaborate with the Doge devs to enhance the currency. We can only guess on how it will improve, but we can be certain that Elon will, like he has in the past, make his idea a reality.
We know the Twitter meme millionaire is capable of great things since he created SpaceX, Tesla, and a slew of other incredible businesses. This is why I am certain that Musk will work with the Doge team to enhance the currency and ensure that it is more ecologically friendly while still increasing in value over time by establishing a restricted supply and enhancing the APIs.
However, only time will tell. We don't know what Elon envisions, but we may guess that it will bring his vision to life.
Dogecoin began as a joke, but Elon Musk may turn it become the next Ethereum before we know it. It may seem terrible, but cryptocurrencies and blockchain technology have yet to face this problem. Pumping a worthless currency is terrible and will cause people to lose a lot of money, but when the coin has strong fundamentals, it may just work out.
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