- Robinhood CEO Vladimir Tenev, Elon Musk and Billy Markus recently discussed improvements in the Shiba-Inu-themed crypto, Dogecoin.
- Analysts believe Dogecoin price is on track to breakout, revealing a bullish outlook on the meme coin.
- Dogecoin price has recovered its losses over the past two weeks, posted 2% gains.
Dogecoin's price outlook has turned increasingly bullish with users' rising adoption and utility. Top cryptocurrency influencers and leaders like Elon Musk, Billy Markus and Vladimir Tenev recently discussed possible improvements to the meme coin.
Dogecoin prepares for climb to $0.20
Dogecoin price is on track to continue its recovery post the crypto market bloodbath. While altcoins in the top 30 are struggling to wipe out losses, metaverse tokens and meme coins like Dogecoin and Shiba Inu have made a comeback.
Dogecoin’s co-founder, Billy Markus, Tesla CEO Elon Musk and Robinhood CEO Vladimir Tenev recently discussed possible improvements and future of the meme coin.
The commission-free exchange’s CEO posted a tweet asking his followers if Dogecoin can truly be the future currency of the internet and the people. Adding that after introducing DOGE transactions on Robinhood, he has pondered upon the question, observing the typical transaction fees and how networks change.
Tenev believes block time should be fast enough to power a Point-of-Sales (PoS) transaction. This would drive higher adoption of Dogecoin.
Tenev was quoted:
Doge’s current block time is 1 minute. This is a bit on the long side for payments – a ten-second block time would be more appropriate as it would be less than the typical time spent completing a debit card transaction.
Markus responded to Tenev’s concerns and suggestions, answering the question of why the block time is one minute and how it avoids challenges. Musk believes the Dogecoin network should be faster while offering users security.
Analysts have evaluated the Dogecoin price trend and predicted a rally to $0.20. FXStreet analysts note Dogecoin price is stuck between $0.13 and $0.15, breaking the $0.13 support level and forming higher highs and lower lows could push the altcoin past resistance to its target at $0.20.
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