Dogecoin is Daddy’s favorite child. ❤️ 🐶 On Elon’s 50th birthday, the Tesla CEO supported Doge’s fee change proposal— he reduced standard dogecoin transaction fees by ~100x.
Doge cheered up on the news, shot up over 10%, and landed at $0.25.
Musk responded to Dogecoin developer Ross Nicoll about the fee change proposal. Doge used to be 10x cheaper than its current Litecoin transaction costs.
Higher fees correspond to higher exchange rates between USD and BTC.X. Musk is working with Doge developers to reduce fees by ~50x.