Dogecoin, the meme-based cryptocurrency that has been called a “joke” by its creator, has exploded in popularity in recent weeks.
The price of dogecoin has risen due to the attention of billionaires, rock stars and YouTubers – with Tesla
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Now, with the 600% increase in the price of dogecoin since the end of January, the developers who had long since abandoned memecoin are back and intend to update the old software.
Dogecoin, a self-response to bitcoin, has caught the attention of the internet this year, … [+]
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“When it took off, there was a resurgence of attention and we want to keep the currency operational,” Ross Nicoll, dogecoin’s chief maintainer, told Coindesk Bitcoin and cryptocurrency.
Created in 2013, Dogecoin saw its last major update in June 2019 and now Nicoll, along with four other developers, want to release another major release to address the security and scalability issues of dogecoin in a year.
“We will always give priority to security. I won’t say that [development] we will not slow down again, but we will always be there looking for security issues to make sure the software is up to date, “Nicoll said.
Dogecoin grew in late January, when retailers organized through the RedSit chat groups WallStreetBets and Telegram, frustrated by GameStop
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However, artists with internet experience continued to talk about the bitcoin rival in the language, hoping to push it even higher.
The price of dogecoin has increased by over 600% since the beginning of the year, rising alongside bitcoin. … [+]
Coinbase
“Doge is the younger brother of Bitcoin. They have the same potential. It’s still early,” said YouTuber Jake Paul via Twitter.
“Neil Armstrong first landed on the moon and now the doge is next. I’m holding on,” Paul said added, redistributed to your fellow YouTuber Ben Phillips, who has been trying to raise the price of the dogecoin in recent weeks – predicting that it will reach 2 USD “in the next few months”.
Meanwhile, the price of bitcoin continued to rise, reaching an all-time high of more than $ 49,000 on bitcoin this weekend, as Wall Street eventually moved to embrace cryptocurrencies, and Elon Musk’s Tesla revealed that it bought bitcoin worth $ 1.5 billion.
“The rise in the price of bitcoin and other cryptocurrencies, including dogecoin – which was also fueled by an approval by Musk on Twitter – comes as digital currencies become commonplace due to growing interest from both retail and retail investors. of institutional investors, increasing the level of mass adoption and whereas global interest rates remain at historic lows, “said Nigel Green, CEO of deVere’s financial advisory group, in comments via email.