Billionaire Mark Cuban has come up with an innovative solution for Twitter’s (NYSE:TWTR) spambot problem, potentially pushing Dogecoin (DOGE-USD) up the crypto ranks.

Cuban suggests that users could put up one Dogecoin for unlimited posts on their Twitter profiles. Moreover, if a post is flagged as spam and is confirmed, the flagger will receive the spammer’s Dogecoins. However, the opposite ensues if the flagger is incorrect in their claims.

Tesla (NASDAQ:TSLA) boss Elon Musk recently acquired the social media giant and promised to make massive improvements to the platform. Moreover, he also feels that crypto spam bots are arguably one of the most annoying problems on Twitter. He states that “we will defeat the spam bots or die trying.”

Most DOGE supporters are bullish over Cuban’s suggestions. It will increase the crypto’s utility, which has been under the scanner for being purely a short-term investment.

The skeptics have concerns over the long-term viability of the decision. Some believe that using cryptocurrency is perhaps collateral to control spamming on a currently free platform.

Dogecoin has become popular among crypto-traders as a meme token. Its price has been incredibly volatile and has aligned with some of the most illogical drivers. However, in the past year, we have seen an increase in its use-cases. Whether it’s the partnership with AMC (NYSE:AMC) and the Dallas Mavericks or its acceptance across multiple payment networks, Dogecoin seems to be evolving.

Whether Dogecoin is a buy after the development would be daft considering the dynamics of the crypto industry. It is a positive development that could move the needle for Dogecoin holders in the future.

On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.