Altcoins

Will Dogecoin level Up to its knock-Offs? DOGE Price to Trigger a Rally?

news-image

with major cryptocurrency experiencing massive rally, Dogecoin has not had the best couple of weeks. Nonetheless, the asset’s price has risen above $0.23 this week, indicating some upside. It has not grown at the same rate as its main competitor Shiba Inu. However, since trade began for the week, it has been steadily increasing. 

Advertisement

Dogecoin has dropped 6% in the last week, whereas Shiba Inu has risen to the top 12 cryptos thanks to a strong gain. Holders of Dogecoin spin-offs have made double-digit profits in the last two weeks as DOGE hits a low.

After Doge co-creator Billy Markus used a meme from the hit Netflix program to delightfully communicate his feelings about the cryptocurrency and the community that supports it, Elon Musk, CEO of Tesla and SpaceX, recognized the similarity and responded with a “rolling on the floor laughing” emoji.

DOGE soared to $0.24 early Thursday morning as a result of this amusing Twitter exchange. Since January of the current year, the meme token has increased by 4074.77 percent. In a 24-hour period on Thursday night, Dogecoin declined 0.32 percent to $0.23. At the time of writing, it is trading at $0.235.

Co-founder Markus pushes for Dogecoin node

Billy Markus has just started actively pushing Dogecoin nodes. While sharing information on how to set up a dogecoin node, the project’s co-founder joked, “If you don’t run a dogecoin node, you are satan.”

Markus also sent out a tweetstorm urging existing nodes to upgrade to the latest version, 1.14.4, so that more users can benefit from cheaper transaction costs in the future.

Miners, he claims, decide “which transactions are on the blocks,” and as a result, low-fee transactions will be cancelled unless the software is modified.

Musk previously stated that decreasing the DOGE fee is “very critical” if the currency is to be adopted as a means of exchange in mainstream locations such as movie theatres.

Show More

Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

Related Articles

Back to top button