Hoskinson believes Dogecoin will “somehow” merge with Twitter.
Following Elon Musk’s Twitter takeover, Cardano founder Charles Hoskinson believes there is a possibility that Dogecoin will merge with the social media platform.
Hoskinson made this known in a tweet, saying:
“Now that Twitter is in the hands of @elonmusk I can see a real possibility that DOGE will somehow merge with the platform.”
Mixed Reactions Trail Hoskinson’s Comment
The tweet attracted lots of reactions from members of both the Dogecoin and Cardano communities. Many DOGE enthusiasts expressed excitement over the possibility that the cryptocurrency may merge with Twitter.
However, some Cardano investors seem unhappy that Hoskinson is advocating for DOGE instead of ADA. They asked Hoskinson to push ADA to merge with Twitter.
why don’t you push #Cardano?
— Cardano Hieronymus (@CardanoHumpback) October 28, 2022
Hoskinson: Dogecoin Should Be Cardano Sidechain
One of Hoskinson’s followers asked if he thinks Dogecoin will transition into a Proof-of-Stake (PoS) or Proof-of-Useful-Work (PoUW) algorithm.
Responding to the user, Hoskinson recommended that Dogecoin should become a sidechain of Cardano. The Cardano boss said he would personally conduct the migration at zero cost. Hoskinson said he would also add smart contracts.
Should be a cardano sidechain. I’d do the migration for free. Hell I’d even add smart contracts
— Charles Hoskinson (@IOHK_Charles) October 28, 2022
DOGE Rallies As Musk Acquires Twitter
The price of Dogecoin recorded a significant rally following news that Elon Musk has taken control of Twitter. As reported, Dogecoin soared 43% in the past week, ranking in the number one spot of Robinhood’s top gainers’ list.
Dogecoin investors believe the cryptocurrency will become a part of Twitter following Musk’s acquisition of the social media platform. Musk has always promoted Dogecoin’s widespread adoption. He has also added support for Dogecoin across businesses linked to him. His tweets about the cryptocurrency last year helped pushed DOGE to an all-time high of $0.73.
DOGE Overtakes Cardano in Market Cap
DOGE is changing hands at $0.1, up 30% in the last 24 hours. A few minutes ago, Dogecoin flipped ADA to become the eighth-largest cryptocurrency by market capitalization. DOGE’s market cap currently sits at $14.57 billion, while Cardano is valued $14.38 billion, at press time.