Dogecoin (DOGE) has suffered a serious drop since last night
Dogecoin (DOGE) has suffered a serious drop since last night. The cryptocurrency fell to the level of $0.16 on Binance for a while . With Dogecoin falling, investors reacted to Elon Musk’s silence. Many names who said they trust Elon Musk stated that Musk should say something about DOGE as soon as possible.
Tesla CEO Elon Musk, the biggest DOGE supporter, broke his silence during the crash, contributing to a discussion about attempts to lower DOGE transaction fees. Ross Nicoll, one of the Dogecoin developers, tweeted that he plans to convince those who oppose that the developers can reduce the current DOGE transaction fees.
Commenting on this, Elon Musk said that reducing wages would be an important development.
We previously reported that the Tesla CEO is working with Dogecoin developers to improve the transaction efficiency of the cryptocurrency.
Ross Nicoll is one of these developers. In this spring-started discussion by Nicoll, the community looks for the best way to reduce DOGE fees to keep miners motivated. In mid-May, Musk shared his vision of how Dogecoin parameters could be improved to become a better payment unit than Bitcoin . These included reducing DOGE transaction fees by 100 percent. Ideally, Dogecoin should be fast enough and transaction fees should be cheap, according to Musk, because buying a cup of coffee with DOGE shouldn’t cost more than the coffee itself.