Dogechain Sees Over $300M Dogecoin (DOGE) Bridged as $DC Token Gets Listed

The controversial Dogechain project suffered a setback last week when Dogecoin’s (DOGE) founder Billy Markus refused the juicy $14 million promotional offer. However, the developers of Dogechain can be proud of their work, as the Layer-2 solution for Dogecoin (DOGE) has over $300 million of the top dog memecurrency bridged already.

The Broad Spectrum of Utilization for DOGE

One of the main perks of the brand new Layer-2 solution is being able to use Elon Musk’s beloved canine coin for NFTs, dApps, DeFi, and blockchain games. In addition to these benefits, all users who bridged to Dogechain are able to get the $DC token airdropped in a two-tier system. For instance, the Early Shibes can get 3% of the total supply, while Loyal Shibes will split 9% of the total supply in four years.

Despite being denied by the founding developer Shibetoshi Nakamoto, the Dogechain project seems to be prospering. Right after reaching the $300 million of Dogecoin (DOGE) transferred, Dogechain announced that the $DC token is getting listed on the Huobi crypto exchange. The DC/USDT pair is already live and users can make deposits from August 31st.

Moreover, another popular crypto exchange KuCoin announced a $DC token giveaway worth $500,000 of DC tokens and an AMA (ask me anything) online event with the developers behind the latest Layer-2 solution for Dogecoin (DOGE).

Dogechain (DC) Soars 135.5% in the First Week

The success of Dogechain’s governance token is evident in its skyrocketing price for the first week. At press time, Dogechain (DC) trades at $0.00286989, according to CoinGecko. Despite being down by 4.6% in the last 24 hours, this might change after Dogechain’s governance token got listed by both Huobi and KuCoin. On top of that, Onus crypto exchange just announced the addition of Dogechain (DC).

As for Elon Musk’s cherished Dogecoin (DOGE), the father of the memecoin is having a bloody red week. At press time, Dogecoin (DOGE) trades at $0.060, which marks an 11.1% deficit for the last 7 days. The fortnight has Dogecoin (DOGE) short of a quarter of its former price, while the yearly perspective is even worse; the popular memecoin dropped in value by 78.3%, according to CoinGecko.

On the Flipside

Why You Should Care

The popular memecoin has one of the fastest growing communities in crypto. Moreover, the constant upgrades like the C-Library update and the upcoming bridge powered by Blue Pepper can have a huge impact on Dogecoin’s (DOGE) market price and longevity as a crypto project.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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Author

Tadas Klimasevskis is an author & reporter, focusing on the latest tendencies of the crypto galaxy. Tadas spends his time digging deeper into specific areas like coins such as Shiba Inu (SHIB) & Dogecoin (DOGE), music NFTs, sports NFTs, digital art, and Pop culture in Web 3.0. Tadas strongly believes in crypto as disruptive innovation and keeps an eye out for new crypto hubs being developed around the globe. His vast experience in social media lets him quickly spot what’s going on in the mercurial world of crypto and deliver stories with unique spins. He has been active in blockchain and cryptocurrencies since 2019.