• Thu. May 23rd, 2024

Robinhood CEO Claims that Dogecoin is Going to Become Internet’s Currency

Hassan Mehmood

ByHassan Mehmood

May 16, 2022

Robinhood CEO Vladimir Tenev recently posted a new update on his Twitter account talking about the famous meme currency Dogecoin. He claimed in his latest tweet that Dogecoin would eventually become the reigning digital currency on the internet. The tweet came at an interesting time when the Dogecoin creator had a little spat with Tesla CEO Elon Musk.

He posted his frustration about Musk’s unique style of talking about Dogecoin on his Twitter profile. Regardless of the situation, Tenev came out as a staunch supporter of Dogecoin recently. He further explained that Robinhood has already added sell and purchase support for the meme coin on their platform and posted 12 consecutive posts to discuss the subject.

Robinhood CEO, Tenev recently shared a series of tweets talking about the upcoming Dogecoin boom. He also shared some important steps that are necessary to elevate the meme currency into a daily useable commodity and the standard for every other internet transaction. He stated that at present, the transaction fees for DOGE are as low as $0.003.

Tenev proceeded to compare the smaller transaction fee of DOGE in comparison to all other major digital tokens and claimed that the quality could make it more adaptable among the masses. He further explained that there is still some lag concerning the block time and block size of the Doge blockchain that needs a technical overhaul.

Tenev Compares Dogecoin with VISA

Tenev is seeing DOGE becoming the new standard for all major internet payments. At present, VISA holds a monopoly over the internet payments sector. Tenev shared that one Doge block is 1MB and takes 1 minute block time. He explained that the Doge blockchain would need to improve its throughput by 1,625 times to compete with the 65K TPS speed of VISA.

Recently, Dogecoin creator Jackson Palmer took a dig at Tesla CEO Elon Musk, who is planning to take over Twitter. Palmer also called Musk a grifter last year and ridiculed his SNL performance without being diplomatic about the situation. Dogecoin prices have remained rather stable despite the recent speculation and controversy surrounding the satirical crypto. Only time will tell what the future holds for the meme currency.

Hassan Mehmood

Hassan Mehmood

Hassan Mehmood, a valued writer at Big Trends Signals, uses his profound online trading expertise to produce in-depth guides and unbiased reviews, enabling traders to navigate digital marketplaces efficiently.

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