When Musk changed his mind about accepting Bitcoin payments for Tesla, he said that Dogecoin was better for transactions, even though it was made as a joke.
Research shows that Dogecoin was the only memecoin in 2022 to reduce its carbon footprint by 25% in one year, which is a crucial metric for mainstream adoption. This was made possible by developers and Tesla CEO Elon Musk.
High carbon emissions were one of the main reasons why Musk changed his mind about taking Bitcoin payments for Tesla. At the time, he thought that Dogecoin was better for transactions, even though it had been made as a joke.
Working with Doge devs to improve system transaction efficiency. Potentially promising.
Dogecoin’s annual CO2 emissions decreased by 25% because of what Musk and others in the Dogecoin ecosystem did. According to research from Forex Suggest, Dogecoin caused 1,063 tons of emissions in 2022. In 2021, it generated 1,423 tons.
In 2022, when Ethereum switched to a proof-of-stake consensus mechanism, its CO2 emissions dropped the most. Its annual emissions, however, were 8.3 times that of Dogecoins.
Dogecoin will be an excellent way to make money in 2023 because it has a minor effect on the environment and is supported by a large community.
In terms of how its price changed for a year during the 2022 bear market, DOGE did much better than most of the top cryptocurrencies.
After XRP and BNB, the memecoin did the third best out of the top 10 coins. DOGE also did better than SHIB, which was its biggest competitor. The SHIB community focused on building a layer-2 network and making metaverse and blockchain games, while DOGE concentrated on making money.
