Elon Musk, a well-known supporter of Dogecoin, shared his view on DOGE's flat inflation, noting that it's more of a feature than a flaw.
Elon Musk's Statement
Elon Musk recently spoke in favor of Dogecoin in his statement on X (formerly Twitter). He stated that he sees Dogecoin's flat inflation as an advantage. This statement was made in response to discussions regarding DOGE's unlimited supply and inflation.
Criticism of Dogecoin's Inflation
Dogecoin is often criticized for not having a limited supply like Bitcoin. Dogecoin founder Billy Markus noted that there is a way to remove inflation from DOGE's mechanics but requires an official request and the support of the community and miners.
Market Reaction
Interestingly, following Musk's statement, Bitcoin's price fell from its peak of around $93,000 to $91,880, highlighting the impact that influential figures' words can have on the market.
The discussion around Dogecoin's inflation features continues to draw interest from both cryptocurrency enthusiasts and investors, showcasing the influence of opinions from figures like Elon Musk.
