In one of the more unlikely stories of the week, David Gokhshtein of Gokhshtein Media, suggested that Elon Musk and Vitalik Buterin will soon team up to “upgrade” Dogecoin. Exactly what this upgrade might entail is ambiguous, but it would have big consequences for crypto—especially in the bear market.
The tweet that sparked the pump @davidgokhshtein.
Elon and Vitalik have a vested interest in Dogecoin. The latter is part of the Dogecoin Foundation and knows the blockchain well. He's even spoken about how "amazing" it would be for Dogecoin to be bridged to Ethereum. The former loves a good meme and has often pumped $DOGE as the potential “currency of Earth.” Elon hasn’t shied away from suggesting changes, either, previously arguing for a block time increase: "10X, increases block size 10X and drops fee 100X.”
Far from a distraction, Elon’s recent Twitter purchase could be the catalyst that spurs him to get more involved with $DOGE. According to Martin Hiesboeck of Uphold, Twitter will probably add a native crypto wallet to keep payments on the platform. What better token to use than Musk’s favorite meme? The Tesla online merchandise store already accepts $DOGE so it seems a safe bet.
Whatever the future holds, the FUD-saddled crypto space latched onto this rare beam of light and $DOGE's price pumped by 27%.
$DOGE for the Everything App?
If Elon really is going to collaborate with Vitalik, then he will do so with an eye on developing his "Everything App." Modeled on existing apps like WeChat and Grab, Elon's Everything App would be just that—an app where you order food, browse social media, listen to music, call a cab, make payments and much more all in one place. He has frequently discussed creating this kind of app (codenamed "X") and even suggested that purchasing Twitter was the first step.
Most expect X to support crypto payments alongside fiat. Given Musk’s fascination with Dogecoin, it seems reasonable to assume that it will play a central role in the Everything App’s ecosystem. Elon might want to make changes to the token before it’s fully integrated, making a collaboration with Vitalik look much more plausible.
Will any of this actually happen? That remains to be seen, but if there’s one thing we’ve learned recently it’s that in crypto…anything is possible.