Dogecoin, the meme-based cryptocurrency its creator has called a “joke,” has become popular in recent weeks.
The price of dogecoin has risen thanks to the attention of billionaires, rock stars and YouTubers, with Tesla
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Now, with the price of dogecoin rising 600% since the end of January, developers who had long since abandoned memecoin have returned and plan to upgrade the obsolete software.
Dogecoin, a response linked to bitcoin, has caught the attention of the Internet this year, … [+]
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“When it took off, attention resurfaced and we want to keep the currency operational,” Ross Nicoll, head of dogecoin, told Coindesk, head of bitcoins and bitcoins.
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 dogecoin’s scalability and security issues in a year.
“We will always prioritize security. I will not say that [development] it won’t slow down again, but we’ll always be there looking for security issues to make sure the software is up to date, ”Nicoll said.
Dogecoin soared in late January when retailers organized through Reddit’s WallStreetBets and Telegram chat groups, frustrated by GameStop
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However, internet-savvy artists have continued to talk to bitcoins rival bitcoins, hoping to increase it even further.
The price of dogecoin has risen more than 600% since the beginning of the year, alongside Bitcoin. … [+]
Coinbase
“Doge is Bitcoin’s little brother. They have the same potential. It’s still early,” said youtuber Jake Paul via Twitter.
“Neil Armstrong landed first on the moon and now the doge is next. I’m holding on,” Paul said added, echoing fellow YouTuber Ben Phillips who has been trying to raise the price of dogecoin in recent weeks, predicting it will rise to $ 2 “in the coming months.”
Meanwhile, the price of bitcoin has continued to rise, reaching an all-time high of more than $ 49,000 per bitcoin this weekend as Wall Street finally goes on to adopt cryptocurrencies and Elon Musk’s Tesla revealed it has bought bitcoin for of $ 1.5 billion.
“The rise in the price of bitcoin and other cryptocurrencies, including dogecoin, which was also driven by Musk’s approval on Twitter, comes as digital currencies become commonplace due to growing interest from retail investors. and institutional, increasing levels of mass adoption, and as global interest rates remain at historic lows, ”Nigel Green, executive director of deVere’s financial advisory group, said in e-mailed comments.