• Dogecoin has reduced its carbon footprint by 25%, due to a collaboration with Elon Musk.
• The new improvements have made Dogecoin one of the most efficient blockchains in the market.
• The reduction in carbon emissions could have a positive impact on the price of Dogecoin in the future.
Dogecoin has been making headlines lately, as the popular memecoin has managed to reduce its carbon emissions by a whopping 25%, thanks to a collaboration with one of its most vocal supporters, Elon Musk. The Tesla CEO, who has been a vocal proponent of Dogecoin in the past, recently worked with the Doge developers to make the blockchain more “transaction efficient”, and the results have been remarkable.
According to data from forexsuggest, Dogecoin’s carbon emissions decreased from 1,423 in 2021, to 1,063 in 2022. This is a major development, as emissions released by other blockchains, such as Ethereum and Bitcoin Cash, have actually increased in the same period. Ethereum saw a 100% rise in CO2 emissions, while Bitcoin Cash had an increase of 90%.
The improvements made to the Dogecoin blockchain have also made it one of the most efficient blockchains in the market. This could have a positive impact on the price of Dogecoin in the future, as more and more crypto investors prioritize sustainable energy. In fact, a survey from 2021 showed that 49% of investors are more likely to invest in a cryptocurrency if it has a low carbon footprint.
Overall, Dogecoin’s reduced carbon emissions could be seen as a major victory for the popular memecoin, and could potentially have a positive effect on its price in the future. With one of the lowest carbon footprints in the market, Dogecoin is well-positioned to benefit from the ever-growing demand for sustainable energy solutions.