In the near future, Dogecoin will be a major player in charity and philanthropy. Here is an overview of what’s on its way for DOGE to become the world-leading cryptocurrency that it deserves.
The DOGE coin is currently valued at $0.0027, and the Dogecoin Foundation has big plans for 2022 that could see it reach a value of $10,000.
The Dogecoin Foundation has published a “trailmap” outlining its future objectives. A statement that the project is community-driven and operated for the benefit of all stakeholders is at the core of the announcement.
“Dogecoin is a community-driven, consensus-based open-source project, with numerous individual and organizational contributors to the different Dogecoin blockchain & ecosystem initiatives forming its path.”
A dedication to the first pillar of the Dogecoin Manifesto, to create $DOGE an usable cryptocurrency, is critical to this new push ahead.
“We emphasize usefulness above technical brilliance because we want to be helpful.”
The Foundation uses the examples of purchasing coffee or paying rent to illustrate how utility might be used to encourage adoption. And, if you read between the lines, there’s an emphasis on payments, or “a real worldwide money for people,” as they put it.
Meme coins are becoming less popular.
Despite the fact that projects sometimes downplay the importance of price, it remains a key criteria for determining a project’s success.
Bears have had the upper hand since May 8, when $DOGE had a spectacular start to 2021, achieving around 15,000 percent YTD gains at its high on May 8.
During this drop, the $0.1543 level has provided solid support. However, $DOGE has been hovering perilously near to this level since the beginning of December, indicating a severe lack of enthusiasm in the project.
DOGEUSDT on TradingView.com is the source.
The growth of the Shiba Inu has made the situation much more unpleasant for $DOGE investors. To add insult to injury, $SHIB managed to surpass $DOGE in market cap rankings at one time.
It’s been suggested that this is due to the fact that meme coins have been released and the hoopla around them has died down. However, in order to regain investor confidence, the Dogecoin Foundation is promoting usefulness via a series of development initiatives.
The Dogecoin Foundation uses utility to fight back.
The GigaWallet initiative, for starters, aims to increase adoption. The Dogecoin Foundation claims that its out-of-date desktop wallet isn’t up to par when it comes to retail integration. In order to address this problem, it presents a new API solution in the GigaWallet.
“The GigaWallet project is an open-source endeavor intended at closing that gap by offering a node / API solution that can be set up in seconds and allows a developer to simply add Dogecoin transactions to their platform, just like any other sophisticated payment provider.”
GigaWallet will allow users to keep custody of their $DOGE using a “Keyring App and SDK,” according to the Foundation, so mobile applications may transact without retaining user keys.
There are also proposals for “community staking” under the direction of Ethereum co-founder Vitalik Buterin.
Buterin proposed migrating Ethereum code to transform Dogecoin from a proof-of-work (PoW) consensus to a proof-of-stake (PoS) consensus model in early September.
The plan for “community staking” makes no mention of such a significant shift. However, it’s expected that this concept would work similarly to how Ethereum works today, with ETH 1.0 running as a PoW chain and ETH 2.0, a PoS chain under development, paying the staking rewards. To put it another way, there are two compatible versions operating at the same time.
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