Dogecoin 2.0? Cardano Founder Pushes to Overhaul DOGE for Elon Musk’s X

Charles Hoskinson, Cardano’s founder, has renewed his offer to enhance Dogecoin’s technical framework. He aims to position the memecoin as the official currency for Elon Musk’s social media platform, X.

The proposal, first suggested in March 2025, has resurfaced amid growing community interest.

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Hoskinson Eyes Dogecoin Transformation

Cardano founder Charles Hoskinson has reiterated his commitment to upgrading Dogecoin, emphasizing its potential to become the standard currency for X.

The offer, made initially to Elon Musk in March 2025, proposes a technical overhaul to improve Dogecoin’s efficiency and reliability. Hoskinson has suggested leveraging a pre-existing Bitcoin 2 roadmap as a foundation for the project.

Despite months since the initial proposal, no formal collaboration has occurred. Hoskinson responded enthusiastically to community reminders, describing the project as fun and a “once-in-a-lifetime” opportunity to work with Musk.

He has also explored a broader blockchain initiative to support the Department of Government Efficiency (DOGE) using Cardano, Bitcoin, and its privacy-focused sidechain, Midnight.

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Musk’s Dogecoin Support and Platform Plans

Elon Musk has publicly supported Dogecoin since 2021, making social media posts that influenced its market performance. In 2022, he tentatively supported Dogecoin as the “official currency of the internet.” While Tesla accepts DOGE for particular merchandise, X has yet to adopt Dogecoin in its limited ‘X Money’ beta system.

The uncertainty over Musk’s intentions leaves Hoskinson’s proposal in limbo. Whether Musk will integrate DOGE as a platform-native currency or consider collaborating with Hoskinson to execute the vision remains unclear.

Market Reaction: Cardano and Dogecoin Prices

Following Hoskinson’s renewed proposal, market responses for Cardano (ADA) and Dogecoin (DOGE) have been modest. ADA is currently trading around $0.61.

While DOGE is near $0.184, showing minor declines from previous levels, analysts note that broader market trends—such as altcoin rotation, liquidity flows, and macroeconomic sentiment—are exerting more influence than this singular announcement.

Despite the high-profile nature of the proposal, neither token has experienced a dramatic price surge. Investors appear to be waiting for concrete developments, such as collaboration details or integration into X, before re-evaluating these assets. The announcement may contribute positively to narrative-driven interest, but the immediate financial impact remains limited.