Dogecoin’s carbon emissions dropped by 25% after collaborating with Elon Musk!

Research shows that Dogecoin (DOGE) is the only memecoin in 2022 to proactively reduce its carbon footprint, a key metric for mainstream adoption, by 25% in one year, thanks to the intervention of developers and Tesla CEO Elon Musk.

One of the main reasons Musk gave for withdrawing from accepting bitcoin (BTC) payments for Tesla was high carbon emissions. At the time, he felt that Dogecoin, “even though it was created as a silly joke,” was more suitable for transactions.

Working with Doge devs to improve system transaction efficiency. It could be promising.

— Elon Musk (@elonmusk) May 13, 2021

It works with Dogecoin developers to improve the transaction efficiency of the system. It could be promising.
— Elon Musk (@elonmusk) May 13, 2021

Thanks to the proactive efforts of Musk and members of the Dogecoin ecosystem, Dogecoin’s annual CO2 emissions have decreased by 25%. With the release of 1,423 tons of emissions in 2021, Dogecoin produced 1,063 tons in 2022, according to research by Forex Suggest.

Although Ethereum saw the largest reduction in CO2 emissions in 2022 after switching to a Proof of Stake consensus mechanism, its annual issuance was 8.3 times less than Dogecoin.

The reduced carbon footprint and strong community support make Dogecoin a viable financial instrument in 2023.

Also read: The real dog behind the DOGE memecoin is seriously ill!

In terms of year-over-year price performance amid the bear market of 2022, DOGE has far outperformed most major assets in the crypto market.

The memecoin emerged as the third best performer in the top 10 list after XRP (XRP) and BNB (BNB). DOGE also outperformed its biggest competitor, Shiba Inu (SHIB), with the SHIB community focusing on building a layer 2 network and developing metaverse and blockchain games.