Its explosive run higher isn't seen as reflecting any meaningful value, but rather as driven by buyers hoping that others will pile in and push the price of dogecoin higher, allowing earlier holders to make a quick buck by taking profits. He predicted it could take two to three years for dogecoin to be able to function as a modern cryptocurrency.ĭogecoin's popularity has surged this year as influencers, including Musk, promoted the meme-based cryptocurrency on Twitter. "My hope is that a compromise can be made where real developers come in, and they start working on doge to create some use and utility for it, so at least it has a value floor and won't collapse," Hoskinson said in the podcast. "Dogecoin is a reasonable target for someone to fix it up and make it an interesting cryptocurrency," he told podcast host Lex Fridman on Friday.Īfter Musk called on developers to submit ideas for upgrades to the meme token last month, Hoskinson posted a video describing the challenges that come with developing a cryptocurrency like dogecoin. Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Įthereum cofounder and cardano creator Charles Hoskinson said in a recent podcast that he hopes Elon Musk's appeal for ideas to upgrade dogecoin will help bring more real-world value to the digital token. The ethereum cofounder hopes Elon Musk's call to fix up the meme token will stave off its collapse.ĭogecoin was last trading 9% lower at 24 cents on Monday, but is up about 5,164% this year. Ethereum cofounder and Cardano creator, Charles Hoskinson Charles Hoskinson/YouTubeĬardano creator Charles Hoskinson said dogecoin has potential for real-world use, if improved.
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