KEY POINTS

  • Dogecoin was trading down 4.81% at $0.128
  • A Dogecoin transaction was successfuly sent last week without using the internet
  • The Dogecoin creator has some ideas on how to add more utility to DOGE

Tesla CEO and cryptocurrency enthusiast Elon Musk has agreed with Dogecoin co-founder Billy Markus' suggestions to add more utility, and value, to the world's first-ever dog-themed meme coin.

This comes as the Dogecoin Foundation's successful run of the RadioDoge project, which allowed the core development team to send DOGE without using the internet, failed to push up the price of the meme coin which has continued to plummet over the weekend. Billy Markus, one of the creators of the coin, shared on Twitter his thoughts on how to add more utility to the token.

Markus, who uses the Twitter handle Shibetoshi Nakamoto, floated three things, including more "businesses accepting Doge," believing that " the more it can be used as a currency, the better." He also proposed that the token should be used as a tipping currency, which for him, is the coin's purest use that "brings happiness."

Tesla CEO Elon Musk reveals the Tesla Energy Powerwall Home Battery during an event in Hawthorne, California
Elon Musk said Neuralink can help treat morbid obesity; some experts believe it's possible, although in the far future. In photo: the Tesla CEO speaks at an event in Hawthorne, California April 30, 2015. Reuters / Patrick Fallon

Additionally, the Markus suggested creating a bridge between Ethereum and DOGE, which he explained would allow the token to be used with Web3. Musk responded to Markus' tweet and agreed that the meme coin would undoubtedly gain more utility if more businesses started accepting it.

The world's richest man also noted that the idea of using DOGE as a tipping currency is nice, but he believes that creating a bridge between ETH and DOGE is "not needed." Markus agreed with the Tesla's CEO's that Web3 is not needed and added, "personally i see web3 as a developer playground which is why i support it, tho i also think it’s not named properly as i don’t think it’ll take over the web, i think it’s more just like “log into some things with your crypto wallet + track virtual goods."

Elon Musk is a Dogecoin believer and often tweets about the dog-themed meme coin. He previously proposed that DOGE be accepted as a form of payment for Twitter Blue. Dogecoin was trading down 4.81% at $0.128, with a 24-hour volume of $580,655,211, as of 10:01 p.m. ET on Sunday, based on the data from CiinMarketCap.

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