While the main part of the leading cryptocurrencies in the last 24 hours slightly lost of previously received positions, a veteran of the industry suddenly Dogecoin has achieved impressive growth, adding to the price for the last two days more than 50%.
If you pay the weekly rate DOGE, you can see that August 26, the cryptocurrency was on the lowest value for the period of $0.0023 (0.00000035 BTC). After a gradual growth in the price of the first sharp jump up was recorded on Thursday, August 30, and after a small correction the coin continued its ascent on Friday, getting in a little earlier today to $0.003819 (0.00000054 BTC).
The largest trading volume in pairs with DOGE in the last 24 hours at the same time recorded at the exchange Gate.io ($15,195 million in tandem with USDT + $2 million paired with BTC), followed with a significant lag located Poloniex ($6 million) and Bittrex ($4.7 million).
According to experts and commentators, the rapid growth of this “created for fun” cryptocurrency is associated with the upcoming September 5 launch of the project Dogethereum, which, apparently, will be the first case of actual use of the coin.
First announced Vitalik Baleriny in December 2015, the project Dogethereum is a based on a smart contracts system, designed to be a bridge between Dogecoin blockchains and Ethereum and potentially scalable to other compatible ecosystem.
“Dogethereum is a p2p currency that uses smart contracts and gives the ability to send payments to any person in the world… It’s based on the engine Ethereum and started with a picture of the [blockchain] DogeCoin, meaning that each holder DogeCoin already has tokens Dogethereum”, — explained on the project website.
Earlier this month, held the alpha release of the project, then the developer of Ethereum Alex van der Sande wrote that and is working on a bounty program, the amount of which shall be 746 ETH.
The Dogethereum team is still working hard on the bounty, and now they will present work in order to reach a new milestone for 746 ether. All information is being made public beforehand so the public and the judges can make a decision: https://t.co/tcvvZNIhk3
— alex van de sande (@avsa) 20 December 2018
The first test Dogethereum transaction took place in February this year, when the developers TrueBit sent DOGE coins to test the network Rinkeby and back. It was also stated that the implementation of the Protocol in the main Ethereum blockchain greatly reduce the cost of computation at any level of complexity.
Today, Dogecoin is a 24-th place in the ranking of CoinMarketCap, with a market capitalization of $427 million Will be interesting to watch further development of the project, the behavior of prices of coins and, of course, the reaction of the community.