Everything you need to know about Dogechain: Dogecoin on steroids
- 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.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
