After Bitcoin Has Ended: Is Tesla Taking Dogecoin? 

The crypto community now apparently suspects that Musk could instead opt for Dogecoin as a means of payment in the future. In any case, Musk had users voted on Twitter - with a clear result for the Dogecoin. According to market observers, Dogecoin should allow faster and cheaper transactions. 

According to Tradingview, the Dogecoin gained $ 10 billion in market capitalization shortly after Thursday's Musk tweet. Dogecoin is currently valued at around $ 71 billion and is the fourth most valuable cryptocurrency after Bitcoin, Ethereum, and Binance Coin. 

Coinbase Crypto Exchange Allows Dogecoin Trading 

The second price driver is the imminent listing of Dogecoin on the large crypto exchange Coinbase. The operators announced that they want to enable Dogecoin trading on their platform within the next six to eight percent.  

However, critics warn of the high volatility of the Dogecoin - and of a possible bubble that could soon burst. 

In any case, Coinbase has significantly benefited from the hype surrounding cryptocurrencies in recent months. In the first quarter, profits climbed to $ 771 million - more than 20 times compared to the same quarter last year. Sales at the company, which went public, affecting their company in April, grew from 191 million to 1.8 billion dollars.