Why Is Cardano Founder Tweeting About Dogecoin (DOGE)?

Charles Hoskinson, founder of Cardano is famous for his raw comments on the largest meme coin by market capitalization, Dogecoin. From offering it to theoretically be Cardano sidechain to asserting that DOGE was a mockery of his life’s work, Charles never wastes a chance to bash Dogecoin. But today, he has caused quite a stir on Twitter by appearing to promote the meme coin.

Charles Hoskinson is Promoting DOGE?

One tweet from any of the well-known crypto personalities is all it takes to cause speculation among the crypto community. Something similar happened when Cardano founder and Input Output Chief Executive Officer Charles Hoskinson was found promoting DOGE.

Doge voting 4ever

– Charles Hoskinson (@IOHK_Charles), March 01, 2023

As expected, Hoskinson’s tweet shocked the Cardano community. Many raised questions about the CEO’s intentions while others think that it is an inside joke or maybe Elon Musk took over Charles’s Twitter account. However, it is more likely that Hoskinson is talking about the Venetian electoral process that was designed to discourage corruption. At that time, The people of Venice elected the Doge as their leader.

To be precise, the Cardano founder’s “Doge voting” tweet is the indication that the Cardano network is all set to enter the final phase of its roadmap dubbed the Age of Voltaire. According to Charles, the Voltaire era will show the industry “how to do decentralized governance.”

Voltaire will allow Cardano to become fully autonomous by introducing a voting and treasury system. Consequently, ADA holders could propose network improvements and upgrades, and users will have more say in the direction of the network because they can submit Cardano improvement proposals through voting.

Impact of Tweet on Dogecoin Price

Dogecoin price has witnessed a marginal gain of 1% over the past 24 hours and trading at $0.08218. Its trading volume is $333,560,713 (down by 0.55%). Hence, this tweet barely made any impact on the meme coin’s price.

Meanwhile, Cardano price is down 0.14% in the last 24 hours and 6.37% in the past seven days. ADA price has dropped even after the broader market’s recent rise.

Also Read: Is Cardano Founder Charles Hoskinson Really Buying Warner Bros Discovery’s CNN?