The controversial Dogechain project suffered a setback last week when Dogecoin’s (DOGE) founder Billy Markus refused the juicy $14 million promotional offer. However, the developers of Dogechain can be proud of their work, as the Layer-2 solution for Dogecoin (DOGE) has over $300 million of the top dog memecurrency bridged already.
+300 Million $DOGE experiencing true utility whilst bridged over on #Dogechain ... Beautiful to see Check it out, #DOGE deposited is tracked on the bridge page: https://t.co/vqPuhARFCj pic.twitter.com/zrs5C65I1IThe Broad Spectrum of Utilization for DOGE— Dogechain (Giving away a Tesla (NASDAQ:TSLA)) (@DogechainFamily) August 31, 2022
One of the main perks of the brand new Layer-2 solution is being able to use Elon Musk’s beloved canine coin for NFTs, dApps, DeFi, and blockchain games. In addition to these benefits, all users who bridged to Dogechain are able to get the $DC token airdropped in a two-tier system. For instance, the Early Shibes can get 3% of the total supply, while Loyal Shibes will split 9% of the total supply in 4 years.
Despite being denied by the founding developer Shibetoshi Nakamoto, the Dogechain project seems to be prospering. Right after reaching the $300 million of Dogecoin (DOGE) transferred, Dogechain announced that the $DC token is getting listed on Huobi crypto exchange. The DC/USDT pair is already live and users can make deposits from August 31st.
We are excited to congratulate$DC token listed on #Huobi We will work with @DogechainFamily to propel the prosperity of #Dogechain Ecosystem! #LFM #dogechainNFT Let's crazy together https://t.co/FVR7pKKOzNMoreover, another popular crypto exchange KuCoin announced a $DC token giveaway worth $500,000 of DC tokens and an AMA (ask me anything) online event with the developers behind the latest Layer-2 solution for Dogecoin (DOGE).— DOGE.Meta (@DOGEMetaNFT) September 1, 2022
Dogechain (DC) Soars 135.5% in the First Week
The success of Dogechain’s governance token is evident in its skyrocketing price for the first week. At press time, Dogechain (DC) trades at $0.00286989, according to CoinGecko. Despite being down by 4.6% in the last 24 hours, this might change after Dogechain’s governance token got listed by both Huobi and KuCoin. On top of that, Onus crypto exchange just announced the addition of Dogechain (DC).
#ONUS New Listing: $DC@DogechainFamily supercharges Dogecoin to bring crypto applications like NFTs, games, and DeFi to the Dogecoin community.Trading pair #DC to #USDT or #VNDC on #ONUS. Details: https://t.co/mJDMfXQ4Lk#Cryptocurrencies pic.twitter.com/iYLxm5MPY9As for Elon Musk’s cherished Dogecoin (DOGE), the father of the memecoins is having a bloody red week. At press time, Dogecoin (DOGE) trades at $0.060, which marks an 11.1% deficit for the last 7 days. The fortnight has Dogecoin (DOGE) short of a quarter of its former price, while the yearly perspective is even worse – the popular memecoin dropped in value by 78.3%, according to CoinGecko.— ONUS (@ONUSFinance) September 1, 2022
On the Flipside
- Despite providing more utilization, Bridges have been at the center of attention in most crypto scams so far in 2022.
- Billy Markus turned down Dogechain’s sweet $14 million offer, claiming it would mean betrayal of the DOGE Army.
- There’s an official Layer-2 solution in the works. The Blue Pepper ETH-DOGE bridge is scheduled to launch by late 2022.
Why You Should Care
The popular memecoin has one of the fastest growing communities in crypto. Moreover, the constant upgrades like the C-Library update and the upcoming bridge powered by Blue Pepper can have a huge impact on Dogecoin’s (DOGE) market price and longevity as a crypto project.
Find out more about the upcoming ETH-DOGE bridge by Blue Pepper
Learn why Elon Musk is clinging on Tesla’s Dogecoin (DOGE) despite bear market