Ukraine said that it would accept cryptocurrency donations in the form of the Dogecoin (DOGE) cryptocurrency token from supporters of the conflict with Russia.
Asking for DOGE Support
The Minister of Digital Transformation in Ukraine, Mykhailo Fedorov, made an announcement on Twitter (NYSE:TWTR) that the token had “exceeded Russian ruble in value.” The ruble has dropped significantly against the U.S. dollar due to the U.S. and EU sanctions. However, its price has been lower than DOGE’s value since January of 2021.
Fedorov’s message on Twitter also called for DOGE proponents, such as Tesla’s CEO Elon Musk, and Dogecoin’s founder Billy Markus to donate to Ukraine’s military and “save lives from Russian invaders,” and noted that “Now even meme can support our army and save lives from Russian invaders.”.
Note that Elon Musk also hinted that Starlink could be the next company to accept Dogecoin (DOGE), and has been a Dogecoin supporter, which is why he got mentioned.
Additionally, Ukraine’s official Twitter account also said that it would be conducting an airdrop for users who made crypto donations to the country.
However, the Ukrainian Vice Prime Minister, Mykhailo Fedorov announced that this airdrop was canceled, and has instead announced NFTs to support the Ukrainian Armed Forces.
On the Flipside
- According to the blockchain records, the wallet address ended up receiving over 562,113 DOGE tokens, which at the time of writing is worth over $75,542 USD, at the exchange rate of $0.13439 per Dogecoin in donations.
Why You Should Care
This heightened level of support for Ukraine, as well as acceptance of the Dogecoin (DOGE) cryptocurrency token, will lead to an increase in its trading volume and an increase to overall cryptocurrency wallets that have bought and hold the cryptocurrency token.
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