The Dogecoin Foundation account posted a thread to give an important reminder to the DOGE community. The meme coin team also revealed what it is currently working on. Meanwhile, Tron inventor Justin Sun made an interesting comment about the DOGE activity he recently detected. Amid these developments, DOGE took flight with the positive mood in the market and the ignition of Elon Musk.
Dogecoin Foundation: We are working hard on Dogebox!
The Foundation behind the meme coin also commented on the financing issue in the thread. The post says that the DOGE Foundation works entirely with donations. Also, ‘It deals with some of the infrastructure that supports Dogecoin.’ Other things the foundation is interested in include the infrastructure that supports Dogecoin. It also ‘makes it easier to interact with and build upon DOGE’ with projects like libdogecoin and Gigawallet. The Dogecoin Foundation team is currently ‘working hard’ on the Dogebox project. This project will help users run their own full Dogecoin node. It will also enable them to adopt DOGE and build their own solutions on this Blockchain.
The post also reminded the DOGE army and the entire cryptocurrency community that DOGE started as a joke, a parody of Bitcoin, but then ‘became the good heart of the crypto community’. Unlike the cryptos that followed, starting with Ethereum, ‘without any pre-allocation or public offering, DOGE is truly a public currency that anyone can contribute to,’ the post said.
Comment from Justin Sun about Elon Musk, DOGE and D.O.G.E.
The founder of Tron made an interesting comment on recent events surrounding Elon Musk and DOGE. As someone who witnessed the early activities of the Dogecoin community, he said he was greatly surprised to see a new US government department turn into D.O.G.E. (Department of Government Efficiency), an acronym for Elon Musk, the person who will now lead it. Sun referred to Elon Musk’s theory. He also supported the theory by saying, ‘it makes me feel like we are living in a giant simulation’. In this context, he said, ‘Nothing is impossible!’
Dogecoin saw a market value of $ 63.5 billion in the rally!
DOGE experienced a dramatic price increase during the day. In this process, the token value saw $ 0.43. Thus, the market capitalisation of the meme coin reached approximately $63.5 billion. This made Dogecoin the sixth largest cryptocurrency by market capitalisation. This marks a significant increase from the market capitalisation of $16 billion just a month ago.
According to experts, the increase in Dogecoin value is linked to Tesla CEO Elon Musk’s involvement in the upcoming Trump administration. Analysts suggest that Musk’s active participation in political campaigns and his support for former President Donald Trump could contribute to the recent interest in Dogecoin. As you followed from Kriptokoin.com, Elon Musk openly supported Trump’s re-election efforts. He even promised to donate $ 1 million every day until the election. According to Nick Ruck, director of LVRG Research, the rise of DOGE is linked to speculation surrounding Musk’s role in the new administration.
Follow us on Twitter, Facebook and Instagram, and join our Telegram and YouTube channel to stay up to date with breaking news !
