DOGE Surges After Musk Upvotes Cuban's Suggestion To Use Dogecoin For Twitter's Bot Problem

Dogecoin, the world's first-ever dog-themed altcoin, saw a price spike after Tesla CEO and DOGE enthusiast Elon Musk upvoted Dallas Mavericks owner Mark Cuban's suggestion to use the meme token to solve Twitter's bot problem.

The price of Dogecoin immediately surged after Cuban suggested a creative way of using DOGE to solve the Twitter bot issue online. The proposition got a positive response and many including Musk liked the idea. The tech billionaire said the suggestion was "not a bad idea," and Dogecoin co-founder Billy Markus said he likes the idea.

DOGE's price surged 3.79 percent to $0.1342 with a 24-hour volume of $1.13 billion as of 1:34 a.m. ET on Sunday, against the $0.1294 price as of 12:54 a.m. ET on the same day. Cuban proposed to use the dog-themed altcoin to authenticate humans on Twitter.

The idea, according to Cuban involves adding "an optimistic roll up to Doge Everyone puts up 1 doge for unlimited posts. If anyone contests a post and humans confirm it's spam, they get the spammer's Doge. [The] spammer has to post 100x more Doge If it's not spam, the contestor loses their Doge. DogeDAO FTW!"

While many Dogecoin holders were delighted about Cuban's suggestion since it is very bullish for DOGE, a few were skeptical about its viability. Meanwhile, several others questioned the requirement to pay for a free service and force others to use the dog-themed altcoin as collateral to stop Twitter spamming.

It may be recalled that last month, the tech billionaire proposed that those who sign up for Twitter Blue service should pay less than the current $2.99, and the payment be made in their respective local currency or using DOGE.

The Tesla head honcho previously said he would make "significant improvements" to the microblogging site and described crypto spambots as the "single most annoying problem" on the social media platform.

Dogecoin was trading up 1.66 percent at $0.1324 with a 24-hour volume trading down 13 percent at $895,810,949 as of 12:07 a.m. ET on Monday based on the data from CoinMarketCap.