Dogecoin developers have confirmed that Tesla CEO Elon Musk has been advising the developers since 2019. They have also said that there is a technical upgrade in the pipeline.
Dogecoin soared on Friday after Elon Musk said he was working with the crypto's developers to improve its efficiency as a means of payment.
The cryptocurrency, which was conceived as a joke in 2013, rose over 30% on Friday morning following Musk's tweet. It touched a high of $0.56.
Ross Nicholl, one of four part-time Doge developers, told crypto website Decrypt that the team has worked with Elon Musk for some time. Not only that, but Nicholl explained they are also finalising an upgrade. He said Doge 1.21 would improve integration, enhance wallet backups, and boost synchronisation speed