The web3 ecosystem hasn't done much with Dogecoin outside of using it as a form of payment for buying, selling, tipping, crowdsourcing, and fundraising. Dogecoin was developed nine years ago by Jackson Palmer and Billy Markus and allows peer-to-peer payments on a decentralised network. Thanks to Dogechain, which gives developers access to the Web3, incorporating the Dogecoin cryptocurrency into Doge-themed projects like NFTs, games, DeFi, and more is now feasible.
The web3 ecosystem hasn't done much with Dogecoin outside of using it as a form of payment for buying, selling, tipping, crowdsourcing, and fundraising. Dogecoin was developed nine years ago by Jackson Palmer and Billy Markus and allows peer-to-peer payments on a decentralised network. Thanks to Dogechain, which gives developers access to the Web3, incorporating the Dogecoin cryptocurrency into Doge-themed projects like NFTs, games, DeFi, and more is now feasible.
Dogechain Advantages for Dogecoin Users
Dogechain is not a project connected to Dogecoin, according to Roc Zacharias, CEO of Lunar Digital Assets and Co-Founder of QuickSwap. However, Dogechain, which uses less energy to run dApps and facilitate transactions, may help scale the widely used Dogecoin. Dogechain is a bridge that can run Ethereum-specific software like apps and games thanks to its Polygon Edge construction and compatibility with the Ethereum Virtual Machine. By exchanging their DOGE for wDOGE proof of stake tokens, Dogecoin users can use it as a bridge to access DeFi, NFTs, gas charge payments, participation in DAOs, and other services.
Projects aiming to create and expand on the Dogechain are also eligible to apply for grants. What are you doing to increase the use of DOGE, for example? One of the most crucial conditions for receiving a grant, ecosystem support, or co-marketing is "Is it fun? "
Dogecoin's Absurd Price Movement
One of the many powerful people in the world who loves Dogecoin is Elon Musk, the CEO of Tesla, SpaceX, and now Twitter. The NFT Tweet Tiles update on the social media platform, which was just announced, has sparked speculation in the Dogecoin and other cryptocurrency communities about whether Musk plans to include the DOGE coin. A well-known tech influencer named Jane Manchun Wong revealed that a rumoured cryptocurrency wallet that supports cryptocurrency deposit and withdrawal is in development.
As of the time of writing, Dogecoin's price has risen by 60% in the previous 24 hours as a result of all this news and speculative activity. Further price movement can be predicted in light of the recent announcement that Dogechain will provide the popular DOGE cryptocurrency with the much-needed scaling solution.
