• Dogecoin has reportedly reduced its carbon emissions by 25% in 2022, thanks to Elon Musk’s collaboration with Doge developers.
• The data revealed that emissions released in 2021 totaled 1,423, but later declined to 1,063 as of 2022.
• Dogecoin’s reduced Carbon footprints could potentially stir up a price rally.
Dogecoin, the popular memecoin, has seen a significant reduction in its carbon emissions in the past year, due in part to a collaboration between Elon Musk and the Dogecoin developers. According to data from forexsuggest, Dogecoin managed to reduce its carbon footprint by 25% in 2022. Musk, the CEO of Tesla and well-known Dogecoin proponent, has worked with Doge devs to improve the system’s transaction efficiency. Thanks to these improvements, Dogecoin is now one of the most efficient blockchains on the market.
The data also revealed that emissions released in 2021 totaled 1,423, but later declined to 1,063 as of 2022. Other chains including Bitcoin, Cardano, Ripple, and Litecoin saw a rise in CO2 emissions, totaling 187%. Ethereum and Bitcoin Cash, however, saw a -100 percent and -90 percent decrease respectively.
This reduction in carbon emissions could be a positive sign for the Dogecoin price. A survey from 2021 showed that 49% of investors believe that sustainability is a top priority when investing in cryptocurrencies. As such, investors may flock to Dogecoin, as it is one of the few cryptocurrencies that is actively trying to reduce its environmental impact.
If this trend continues, Dogecoin could be set for a price rally in the years ahead. However, it remains to be seen what effect this reduction in carbon emissions will have on the Dogecoin price. It is likely that the market will react positively to the news, but only time will tell.