Dogecoin holders are waiting for a major update to the joke coin, which is expected to bring a reduction in transaction fees. Analysts predict that the DOGE price is ready to explode with a massive rally. Details are here.
Glauber Contessoto, a popular Dogecoin millionaire, recently announced that he has purchased $5,000 worth of Dogecoin. Contessoto urged traders to accumulate Dogecoin and made the following prediction:
“Something big is going to happen with DOGE soon.”
I just bought another $5,000 in #dogecoin 🐕🚀🌔 something big is going to happen with #doge soon… hope you’re loading up because I am 😎🤑🤲🏼💎 pic.twitter.com/dkY3AOexRF
— SlumDOGE Millionaire (@ProTheDoge) October 17, 2021
Dogecoin has gained over 4500% since the start of 2021, outpacing Bitcoin, Ripple, Ethereum and Cardano in returns to date.
As we reported earlier, Dogecoin creator Billy Markus stated that when DOGE nodes are upgraded to 1.14.4, there will be a reduction in transaction fees on the Dogecoin network. Markus “Nodes are important. It keeps the network in motion, verifies transactions and keeps the blockchain up to date. It’s good to update to 1.14.4 which allows for lower transaction fees.” made a share.
Markus emphasized that if the existing node operators are updated to version 1.14.1, it will be enough for the network to reduce transaction fees and there is no need for new nodes to join the network for the same result.
Dogecoin supporters expect low transaction fees to increase DOGE utility and trigger a rally.
The development team behind Dogecoin is also working on the Dogecoin-Ethereum bridge. Development continues; The launch date has not been announced yet.
Again, as we recently reported, Justin Bennet, crypto analyst and founder of Crypocademy HQ, announced that he expects a rise for DOGE. The analyst predicted a 500-1000% increase in the DOGE price. Bennet estimates that once DOGE price crosses $0.244, it is ready to climb 500-1000%.
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.