Dogecoin, the tongue-in-cheek cryptocurrency that’s memed its way into the crypto top ten by value this year, has defied its critics by holding on to most of its huge gains.

The dogecoin price has soared from mere fractions of a dollar to around 30 cents in recent months, largely thanks to the somewhat satirical support from Tesla billionaire Elon Musk.

Now, after Musk called on cryptocurrency developers to submit ideas for dogecoin upgrades, an ethereum cofounder who went onto create rival blockchain cardano, Charles Hoskinson, has said he hopes Musk’s support will help some “real developers come in and start working on dogecoin” to create some “use and utility” and give it a “value floor.”

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