Tesla CEO Elon Musk expects Dogecoin to effectively offer a solution to high transaction costs and low speeds of using Bitcoin and Ethereum, Cryptopotato reports. 

  • Crypto YouTuber Matt Wallace has hailed the upcoming Doge update saying it will position the meme coin as one of the most popular currencies in the world
  • Musk says the upcoming Doge update will make more people use it for faster payments and lower fees, moving away from slow and expensive Bitcoin and Ether.

Musk’s support for Dogecoin is not new and recent comments helped to send the price to record highs before it crumbled.  DOGEUSD is up +4.54%.