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Dogecoin Jumps 22% as Elon Musk Hints at Improving Network's Transaction Efficiency

Coinbase also announced it would be listing DOGE in six to eight weeks.

Güncellendi 14 Eyl 2021 ös 12:55 Yayınlandı 14 May 2021 öö 12:37 AI tarafından çevrildi
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Dogecoin (DOGE) is once again running with the wolves after Tesla's Elon Musk tweeted "potentially promising" news for the network.

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According to a Twitter comment by Musk on Thursday evening, Tesla and its CEO are "working with Doge" developers to "improve system transaction efficiency."

Prices across major exchanges including Binance, Bitfinex, FTX, Gemini and Poloniex are posting around 22% gains over a 24-hour period for the Shibu Inu-inspired meme coin. The cryptocurrency is currently changing hands for around $0.48. The increase came even as other major cryptocurrencies' prices sank.

Meanwhile, U.S. cryptocurrency exchange Coinbase announced it would be adding DOGE to its suite of crypto offerings in six to eight weeks, likely due to client demand as has been the case with other major exchanges.

Doge price
Doge price

The world's second-richest man has played a large role in DOGE's astronomical 9,400% rise in value since it was just a pup trading at around $0.005 on Jan. 1.

Musk's handiwork has previously affected DOGE's price. Last month, Tesla's CEO hinted the Shibu Inu-inspired crypto would feature on "Saturday Night Live," with Musk calling himself the "Dogefather." Prices immediately spiked on the tip, jumping 24% from $0.25 to $0.31.

DOGE's price continued to soar leading up to Musk's appearance on the show, touching an all-time high of around $0.74, but immediately cooled after traders' hopes were dashed by Musk's meager mention of the crypto that night.

See also: Coinbase to Add Dogecoin in the Next 6-8 Weeks

The problem, some argue, is that DOGE is unlikely to survive without Musk's help, though developers appear to be making headway in a project that once had zero involvement from crypto technicians.

Dogecoin started as a joke in 2013 by creators Jack Palmer and Billy Markus to draw newcomers to the cryptocurrency industry. It has since gained immense fame at least partly because of celebrity endorsements from the likes of Snoop Dogg and Kiss's Gene Simmons.

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Protocol Research: GoPlus Security

GP Basic Image

Bilinmesi gerekenler:

  • As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
  • GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
  • Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.

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Japan’s Higher Rates Puts Bitcoin in the Crosshairs of a Yen Carry Unwind

Aerial view of Tokyo (Jaison Lin/Unsplash, modified by CoinDesk)

A stronger yen typically coincides with de-risking across macro portfolios, and that dynamic could tighten liquidity conditions that recently helped bitcoin rebound from November’s lows.

Bilinmesi gerekenler:

  • The Bank of Japan is expected to raise interest rates to 0.75% at its December meeting, the highest since 1995, affecting global markets including cryptocurrencies.
  • A stronger yen could lead to de-risking in macro portfolios, impacting liquidity conditions that have supported bitcoin's recent recovery.
  • Governor Kazuo Ueda indicated a high probability of a rate hike, with officials prepared for further tightening if their economic outlook supports it.