Changpeng Zhao: DOGE exists only because of Elon Musk

Чанпен Чжао" href="https://noworries.media/biography/chanpen-chzhao/" data-bio-id="3681">Changpeng Zhao, CEO of Binance, said that Dogecoin DOGE $0.10 Department Of Government Efficiency -0.17% Market capitalization $0.1 billion VOL. 24 hours $0.81 billion could have disappeared long ago if Twitter CEO Elon Musk had not «extended its life.» Zhao spoke about this during a regular AMA session.

According to the top manager, DOGE is a worthless token, which is why Zhao «expected it to fade away.»

«After Elon Musk showed interest in the asset, it got a ticket to life. Crypto investors paid attention to the coin, which eventually led to its growing popularity,» the Binance CEO emphasized.

Zhao does not hide the fact that he does not understand what attracts crypto users to meme tokens. The Binance CEO has never owned them, as he prefers «useful coins». DOGE still belongs to the class of high-risk assets, but despite this, Binance added it to the listing.

At one time, Musk was actively promoting the meme token. Last month, he promised to give Twitter users the opportunity to pay for their Twitter Blue subscription with DOGE coins.

Yesterday, on May 18, DOGE set a historical high — the number of transactions in the meme cryptocurrency’s blockchain exceeded 1.2 million per day. This was not only the largest figure for the DOGE network, but also the first time it exceeded the maximum values for the Bitcoin network.

At the time of writing, DOGE is trading at $ 0.07, which is 0.22% lower than yesterday. The asset’s market capitalization is $ 10.2 billion, and traders made daily trading deals worth $ 54.4 million.