Charles Hoskinson proposes migrating Dogecoin to the Cardano blockchain

Cardano founder Charles Hoskinson suggested that after Elon Musk’s acquisition of Twitter, Dogecoin (DOGE) could be integrated with the social platform, and proposed migrating the meme cryptocurrency into the Cardano ecosystem.

Now that Twitter is in the hands of @elonmusk I can see a real possibility that doge will somehow merge with the platform.

— Charles Hoskinson (@IOHK_Charles) October 28, 2022

“Now that Twitter is in Musk’s hands, I see a real possibility that DOGE could somehow be integrated with the platform,” he wrote.

One commenter pointed to DOGE’s problems, including a high concentration of assets in the hands of whales and the lack of NFT support, announced on October 27 the option to display NFTs.

In response, Hoskinson noted that the social platform could launch the protocol as a Cardano sidechain. He added that Dogecoin developers could also migrate the cryptocurrency into the Cardano ecosystem.

Should be a cardano sidechain. I’d do the migration for free. Hell I’d even add smart contracts

— Charles Hoskinson (@IOHK_Charles) October 28, 2022

“It should be a Cardano sidechain. I would carry out the migration for free. Heck, I would even add smart contracts,” he said.

According to CoinGecko, Dogecoin rose 105% over the week and 15% in a day. At the time of writing the cryptocurrency trades near $0.125.

Dogecoin prices began to rise on October 27 after Musk posted a video of visiting Twitter’s headquarters. The next day, when it emerged that the billionaire closed the deal to buy the social network, the price added another 10%.

On October 29 DOGE for the first time since May 2022 surpassed the $0.1 mark, overtaking Cardano in market capitalization.

In January, Musk said that Tesla would continue to sell goods for DOGE and SpaceX would soon follow.

In April, the billionaire proposed lowering the price of Twitter Blue and giving users the option to pay for the premium service in the meme cryptocurrency.

Later, he confirmed that he would continue to support the project despite the bear market.

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