Charles Hoskinson just won’t quit on his Dogecoin dreams. The Cardano founder doubled down this week on his pitch to transform DOGE into the official currency for Elon Musk’s X platform.
But here’s the thing. Musk hasn’t said yes. In fact, Musk hasn’t said much of anything about this proposal since Hoskinson first floated it back in March 2025.
Meanwhile, both ADA and DOGE prices barely moved when the news hit. Markets seem to be waiting for actual progress, not just renewed promises.
The Pitch That Won’t Die
Hoskinson originally proposed upgrading Dogecoin’s technical infrastructure seven months ago. His vision? Transform the memecoin from internet joke into serious payment currency for X.
The plan involves leveraging an existing Bitcoin 2 roadmap as the foundation. Hoskinson argues this approach would enhance DOGE’s efficiency and reliability. Plus, he’s pitched a broader blockchain initiative using Cardano, Bitcoin, and Midnight (Cardano’s privacy-focused sidechain) to support the Department of Government Efficiency.
Now he’s back with the same offer. This time, community members reminded him about the original proposal on social media. So Hoskinson responded enthusiastically, calling the project “fun” and a “once-in-a-lifetime” opportunity to work with Musk.
But talk is cheap. No formal collaboration has materialized. No technical specs have been shared. No timeline exists.
Musk’s Crypto History Complicates Things
Elon Musk’s relationship with Dogecoin goes way back. He’s been tweeting about DOGE since 2021, and those posts often moved markets. In 2022, he tentatively supported making Dogecoin the “official currency of the internet.”
Tesla accepts DOGE for some merchandise. Yet X hasn’t integrated Dogecoin into its limited ‘X Money’ beta payment system. That’s telling.
Moreover, Musk’s crypto enthusiasm tends to be unpredictable. He’ll champion something one day, then go silent for months. So counting on his support for a major technical overhaul seems optimistic at best.
Without clear signals from Musk, Hoskinson’s proposal exists in limbo. Will X adopt DOGE as platform-native currency? Would Musk actually collaborate on rebuilding the coin’s foundation? Nobody knows.
Markets Shrug at the News
Both Cardano and Dogecoin showed minimal price reaction to Hoskinson’s renewed pitch. ADA currently trades around $0.61. DOGE sits near $0.184. Both tokens posted minor declines from previous levels.
Analysts point to broader market forces driving these prices. Altcoin rotation patterns, liquidity flows, and macroeconomic sentiment matter more than announcements without substance. In fact, narrative-driven hype rarely moves prices anymore unless concrete developments follow.
Investors appear to be waiting for actual collaboration details or integration plans before reassessing these assets. Smart move. Talk without action has burned crypto investors too many times.
The Bigger Question Nobody Asks
Why would Musk need Hoskinson’s help anyway? X has resources. Musk has engineers. If he wanted to rebuild Dogecoin’s technical foundation, he could do it internally.
Plus, Cardano’s reputation for slow development doesn’t inspire confidence. The network has struggled to gain traction despite years of promises about superior technology. So why would Musk partner with a founder whose own blockchain can’t seem to break through?
Meanwhile, Dogecoin works fine for what it is. Simple transactions. Low fees. Established community. Maybe the coin doesn’t need a technical overhaul. Perhaps simplicity is the whole point.
Hoskinson seems to be pitching a solution to a problem Musk hasn’t acknowledged exists. That’s usually not a winning strategy.
What Happens Next
Honestly? Probably nothing. This feels like the crypto equivalent of sliding into someone’s DMs and getting left on read. Hoskinson keeps talking. Musk keeps ignoring. Markets keep moving based on actual developments elsewhere.
But I could be wrong. Musk loves surprising people. Maybe he’ll suddenly announce a massive Dogecoin overhaul next week. Tech executives do unpredictable things.
Until then, watch what happens, not what people say they want to do. Proposals without progress aren’t worth your attention or investment dollars. The crypto space has enough vaporware already.