Recent studies have shown that Dogecoin was the first memecoin in the year 2022 to voluntarily reduce its carbon footprint by 25% over the course of a single year. This achievement would not have been possible without the collaboration of the programmers and Elon Musk, CEO of Tesla. This essential condition must first be addressed before broad acceptance of cryptocurrencies can be achieved.

Musk’s decision to reverse Tesla’s plan to start accepting Bitcoin payments was influenced, in large part, by the car’s high carbon emissions, which was a major contributing cause. Furthermore, Musk’s decision was influenced by the fact that Bitcoin is a decentralized form of payment. Musk came to this conclusion for a number of reasons, including this one.

As a direct consequence of the efforts made by Musk and the other players in the Dogecoin ecosystem, the annual CO2 emissions responsible for the Dogecoin ecosystem have been reduced by 25%.

According to research by Forex Suggest, the amount of emissions created by Dogecoin dropped to 1,063 tons in 2022, which is a significant decrease from the 1,423 tons produced in 2021. In 2021, Dogecoin was responsible for producing these emissions. In the year 2021, Dogecoin was the source of the emissions that occurred.

The amount of CO2 emissions decreased more than any other cryptocurrency in 2022 when Ethereum transitioned to a proof-of-stake-based consensus procedure. Despite this fact, Ethereum’s annual issuance was 8.3 times that of Dogecoin.

Dogecoin is well positioned to become a viable financial tool by 2023 as a result of the fact that it has a lower impact on the environment and is widely supported by the community. This is due to the fact that dogecoin has a lower impact on the environment than other cryptocurrencies.

In terms of Dogecoin’s price performance over the course of a full year during the 2022 bear market, DOGE held up substantially better than most other major assets in the cryptocurrency market. This was particularly the case during the last three months of the year.