- The meme cryptocurrency, which experienced a dazzling price increase despite the downward trend in the market, attracted attention with its giant rally.
According to data provided by CoinMarketCap, Dogechain’s native token Dogechain (DC) The price has skyrocketed by more than 220 percent in the past 24 hours, rising astronomically earlier today.
before they lose some of their gains Dogecoin (DOGE) layer 2 solution Dogechain has reached an all-time high of $0.002694.
This massive price increase came after KuCoin, one of the most popular cryptocurrency trading platforms, announced that the token was listed on its platform. Users of the exchange will be able to start trading with the DC/USDT pair from August 27. Not only that DC tokenwas also listed by MEXC Global earlier today.
What is Dogechain (DC)?
Dogechain is expected to serve as a Tier-2 solution for the largest meme coin, bringing full compatibility with Ethereum-based smart contracts, bringing non-fungible token and various decentralized finance applications to Dogecoin users.
The Polygon Edge-based protocol also describes itself as a cheaper and faster alternative to the original chain. Dogecoin, the world’s largest meme coin, is used to pay fees on the Dogechain network.
According to the data provided by DefiLlama, KibbleSwap (KIB) and Fruits of Ryoshi (NONI) With the biggest growth in the last 24 hours, Dogechain-based projects have $16.67 million locked in.
The Dogechain team is expected to conduct an airdrop of its native token for Dogecoin holders later this year. Although there are not many details on the matter, according to the project website, the team plans to issue “millions” of tokens.
Dogechain’s massive price surge shows that retail investors are still desperately hunting for dog cryptocurrencies that are expected to show a massive miracle in an instant. After Dogecoin and Shiba Inu posted huge returns last year, many fake teams have tried to capitalize on the dog coin craze.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.