Reports have surfaced suggesting that Ethereum (ETH<\/a>) co-founder Vitalik Buterin and Tesla\u00a0(NASDAQ:\u00a0TSLA<\/a>)\u00a0CEO Elon Musk will come together and begin working on upgrading Dogecoin (DOGE<\/a>). <\/p>\n As a result, the price of Dogecoin is going through the roof. Dogecoin is currently changing hands at $0.08761, up 8.46% in the last 24 hours and around 2.4% across the previous seven days.<\/p>\n Interestingly, the price of DOGE added over $1 billion to its market cap in a little over an hour, from $10.9 billion to $12.07 billion before retracing slightly.<\/p>\n The spike in the price of DOGE came after crypto podcaster and influencer David Gokhshtein told his 700,000 followers that he believes Ethereum co-founder Vitalik Buterin and Twitter CEO Elon Musk will soon begin working together to improve Dogecoin in a tweet on November 25.<\/p>\n I feel that we\u2019ll all see Vitalik and Elon working together to somehow upgrade $DOGE<\/a>.<\/p>\n \u2014 David Gokhshtein (@davidgokhshtein) November 25, 2022<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n Notably, Finbold reported<\/a> in September 2021 that Buterin said DOGE should consider switching to Proof-of-Stake (PoS<\/a>), saying that the Ethereum code can easily be used for that transition.\u00a0<\/p>\n The transition to Proof-of-Stake is also highlighted on the Trailmap for Dogecoin. Not only does Vitalik have the legal right to make such ideas in his capacity as an observer and founder of Ethereum, but he also does so in his capacity as a member of the Dogecoin Foundation, which he joined in 2021.\u00a0<\/p>\n Earlier in February this year, Buterin confirmed<\/a> he\u2019s assisting in Dogecoin\u2019s Proof-of-Stake transition. The Ethereum co-founder referenced a proposal<\/a> published on Christmas last year, which outlined a strategy to execute the DOGE proposal for a \u2018Community Staking\u2019 version of PoS, which would let more individuals participate in managing the Dogecoin network.<\/p>\n \u201cThey recently released something, the Dogecoin Foundation in collaboration with Vitalik Buterin to create community staking, it got published last year at Christmas.\u201d<\/p>\n<\/blockquote>\n With DOGE\u2019s price climbing, crypto trading expert Altcoin Sherpa tweeted<\/a> that it\u2019s unlikely the meme coin will continue to climb:<\/p>\n \u201cDOGE: Moving prob due to some Elon news. Don\u2019t really think this will be a sustainable pump given the market conditions; probably can be shorted around $.09.\u201d<\/p>\n<\/blockquote>\n Dogecoin\u2019s ability to maintain the pump is very doubtful given the current market circumstances and the fact that it has already begun to retrace, but this won\u2019t stop DOGE investors from keeping a close eye on their notifications in the meanwhile.<\/p>\n![\"\"](\"https:\/\/finbold.com\/app\/uploads\/2022\/11\/chart-10-2-1024x683.jpg\")
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Buterin and DOGE shift to Proof-of-Stake<\/h2>\n
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Will Dogecoin continue to pump?<\/h2>\n
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