Popular meme coin DOGE after remaining dormant for a long time has been seeing tremendous growth in the last few months. The reason being, since some powerful people in the crypto industry, have spoken about it. Out of all of them, Elon Musk has been the most popular messiah of the memecoin.
The chief executive officer of Tesla and SpaceX has stated that DOGE needs to have a reduction in its fees. This is in order to make purchases cheaper. Also, this would make a significant contribution to the price volatility of the coin.
Moreover, This is also imperative so as to make things like buying movie tickets viable for the general public.
Back in May, Musk has stated that he was working with the developers of Dogecoin to make improvements in its transaction efficiency.
Earlier this month, an American movie theatre chain (AMC) had announced that it would accept Ether, Bitcoin, Bitcoin Cash, and Litecoin for the purpose of ticket purchases by customers. But, Dogecoin didn’t have its place in the initial list.
However, after this announcement, AMC CEO Adam Aron made a tweet. The tweet was about asking the customers regarding the inclusion of DOGE in the list. The poll results came in favor of DOGE as a payment mode.