Dogecoin and Elon Musk: Ukraine’s newest attempt to tackle Russia

Dogecoin, the popular meme cryptocurrency, may be able to aid Ukraine in tackling the Russian forces that have gained momentum in their invasion, according to Ukraine’s Vice Prime Minister Mykhailo Fedorov. Elon Musk, who is considered to be a flagbearer of the digital currency, has also been personally asked to help.

Vice PM Mykhailo Fedorov announced in the social media post that Ukraine has officially started accepting donations in Dogecoin, noting that it has surpassed the Russian Ruble in value.

Also Read: Yevhen Malyshev, 19-year-old Ukrainian biathlete, dies while fighting Russian invasion

The tweet read, “@dogecoin exceeded Russian ruble in value. We start to accept donations in meme coin. Now even meme can support our army and save lives from Russian invaders. $DOGE owners of the world, @elonmusk, @BillyM2k, let’s do it.”

Alongside Musk, Fedorov also mentioned Billy Markus — Dogecoin’s co-creator, to pitch in efforts to help Ukraine counter the Russian forces. The social media post also carried a link to Ukraine’s official Dogecoin wallet.

Markus promptly responded to Vice PM Federov’s tweet saying that “dogecoin folks aren’t usually rich” but are a “caring and passionate bunch those who want to help will offer what they can.”

While Tesla boss Elon Musk is yet to respond to the request, he previously extended support for the Ukrainian government. The Starlink internet system was provided to the country if their own networks were compromised amid the Russian invasion.

Also Read: Russia targeting civilians, ‘too early’ to say if its a war crime: Biden

According to reports from the New York Post citing data from Coinbase, the meme cryptocurrency was valued at 13 cents per token at the time. 

Meanwhile, western countries have dumped a series of economic sanctions on Russia, blaming it for the increased violence in eastern Europe. The Russian Ruble and the Tether cryptocurrency’s trading volume spiked earlier this week following the sanctions, Reuters reported.