Dogechain (DC) Notches 200% Hike In Trading Value In The Past Week
24 Outubro 2022 - 9:47AM
NEWSBTC
Dogechain (DC), a recently introduced cryptocurrency, is posting
big numbers in terms of gains since being added to the ever-growing
family of the crypto space. Dogechain trading volume spikes to over
$50 million in just two weeks DC price surges to $0.0045 before
experiencing correction Dogechain blockchain looks to build up
Dogecoin At press time, according to tracking from Coingecko, the
layer 2 digital asset is trading at $0.001433. Over the past 24
hours, it has grown by 18.5%. Related Reading: Cosmos In A
Downtrend Since Last 2 Months – Investors Shying Away From ATOM?
Source: Coingecko Its growth on weekly, biweekly and monthly
basis are also off the charts, going up by 176.8% during the last
seven days and 141.3% over the last two weeks. On its month-to-date
figures, Dogechain is up by 79% as it now sits on a market
capitalization of almost $43 million. Trading Volume Skyrockets For
Dogechain Within two weeks, the new crypto’s trading volume saw a
massive surge as it reached over $50 million. At the time of this
writing, however, Dogechain’s volume dropped to $33.7 million. This
catapulted the digital asset’s value to $0.0045. That was
short-lived however as price correction trimmed the virtual
currency’s gains. There are 20 market places where the altcoin can
be traded with Gate.io and Kucoin accounting for almost 40% of all
trades that involve the cryptocurrency. But while Dogechain is
having a very good showing in terms of price pump, the
EVM-compatible layer 2 blockchain token’s true purpose is to
complement meme crypto Dogecoin. Although the asset carries the
“doge” moniker, it is important to remember that it is not an
extension of the Dogecoin project and is not built on DOGE network.
Dogecoin: Unleashing Its Full Potential Increasing the utility of
Dogecoin is the main goal of Dogechain. Holders of the famous
dog-themed crypto can take advantage of the added utility that this
blockchain give by wrapping their DOGE holdings with smart
contracts. When this is done, Wrapped DOGE (wDOGE) will be given
back to the owners. This new and improved token will then allow
them to DeFi products as well as NFTs that are powered by the
Dogecoin network. With the help of the Dogechain blackchain, DOGE
looks to realize its goal of being at the center of Decentralized
Finance (DeFi) ecosystem. Such boost is needed by the 10th ranked
crypto in terms of market capitalization and recognized as the “OG”
(“original gangster”) meme-based digital token, as it continues to
struggle in initiating a bull momentum. At press time, it is
trading at $0.595 and is forecasted by Coincodex to decline over
the next five days to change hands at $0.0546. The next 30 days
will be bearish for the cryptocurrency as well, as it is predicted
to drop all the way to $0.0367. Related Reading: Solana (SOL) Could
Recoup Losses In Last 7 Days – Here’s How Crypto total market cap
at $891 billion on the daily chart | Featured image from Coincu
News, Chart: TradingView.com Disclaimer: The analysis represents
the author's personal views and should not be construed as
investment advice.
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