- Dogechain is a layer-2 scaling solution for Dogecoin that enables DOGE users to use dApps, NFTs and the DeFi ecosystem.
- Dogechain recently hit the milestone of 2 million transactions and 100,000 unique wallets.
- Dogecoin prepares for its recovery, DOGE price attempts to break out of its multi-year downtrend.
Dogecoin price hit a peak of $0.87 before its decline. DOGE is attempting to break out of its multi-year downtrend, to recoup its losses. Dogechain’s launch has fueled a bullish sentiment among holders.
Also read: What is Dogechain, the secret sauce behind Dogecoin’s 15% price rally?
Dogechain successfully completes wallet security update
Dogechain, DOGE’s layer-2 scaling solution successfully completed its wallet security upgrade. Dogechain is a non-traditional layer-2 scaling solution for DOGE. Unlike traditional scaling solutions, Dogechain is built on Polygon Edge. Dogechain’s popularity is attributed to the fact that the project allows developers to build dApps, interact with the DeFi and NFT ecosystem using their DOGE.
1/
— Dogechain (Giving away a Tesla) (@DogechainFamily) August 19, 2022
Wallets security upgrade successfully completed! ✅
Thank you for your patience frens
The #Dogechain security upgrade has been fully implemented.
We’ve successfully moved all $DOGE funds into a secure 3/5 multisig cold storage to ensure their safety at all times. pic.twitter.com/3T0XyOfopX
Through Dogechain developers can build DeFi and NFT applications, and use them on the DOGE network. To start using Dogechain, users need to purchase DOGE at any cryptocurrency exchange or platform. DOGE is available at most leading cryptocurrency exchanges like Binance, KuCoin, Kraken, among others.
Once a user has acquired DOGE in exchange for their fiat or any other cryptocurrency, the meme coin needs to be bridged to the Dogecoin chain, Dogechain. The bridge is available at
https://bridge.dogechain.dog/bridge and users are expected to check the URL twice to avoid phishing scams. Dogechain is currently trading across three decentralized exchanges, Bourbon DeFi, DogeShrek and DogeSwap.
Dogecoin price ready to make a comeback?
Dogecoin is ready to recoup its losses and make a comeback. Analysts at FXStreet have identified $0.072 as the make or break level for Dogecoin price. If buyers fail to defend this level, further decline in DOGE is likely. Once Dogecoin’s price climbs past $0.072, the meme coin is likely to recover from its downtrend.
DOGE-USDT price chart
DOGE price rally past $0.082 would imply a clean break from the multi-year declining trend line.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin price primed to revisit $33,000 as global market turmoil rages on

Bitcoin (BTC) price is rallying in a full recovery story after a harsh and long crypto winter through most of 2022. With both yields and the US Dollar fading, the two biggest kryptonites for Bitcoin bulls are fading and losing their grip on the downtrend.
SEC v. Ripple: John Deaton says Hinman documents will be made public and support defense for Coinbase, Binance

XRP-friendly lawyer John Deaton believes Hinman emails are key to the legal battle between US financial regulator Securities and Exchange Commission (SEC) and payment giant Ripple.
Is this gaming token ready to plummet after a 56% rally in the last week?

With the Game Developers Conference between March 20 and 24, gaming tokens witnessed a massive boost in their prices. IMX token yielded 56% gains since March 13, alongside other blue-chip gaming tokens.
Here is what needs to happen for Ethereum price to rally 20%

Ethereum (ETH) price shows an exhaustion of bullish momentum after producing a clear sell signal on the four-hour timeframe. This development could result in a quick drop.
Weekly Recap: Bank runs, stablecoin drama, Voyager bankruptcy hearing, threat to DOX Shiba Inu founder

US bank runs sent shockwaves through market participants, traders turned to Bitcoin and the “safe haven” narrative made a comeback. Binance’s $1 billion acquisition of bankrupt crypto lender Voyager is back on track with a ruling from a New York bankruptcy judge.