Well, the crypto-coin developed out of a joke, Dogecoin (DOGE), is not a joke anymore, and, honestly, it has never been. Now, however, is the first time when DOGE is indeed showing it’s a powerful digital asset and can compete with more appreciated and higher-ranked cryptos. Recently, Dogecoin (DOGE) surpassed ZCash (ZEC) and became a top-20 cryptocurrency by market capitalization.
Totaling a market cap of $669,270,438, DOGE managed to surpass ZCash (ZEC) by about $46 million. At the moment of this writing, Dogecoin (DOGE) trades at $0.0057, surging by 9.74% in the last 24 hours. In the past seven days, on the other hand, it recorded a 3.90% drop, but that’s okay, paradoxically, since other major cryptocurrencies registered more significant losses.
Successful demo of the DOGE-Ethereum bridge was behind the recent Dogecoin (DOGE) market cap boost
When Dogecoin (DOGE) started to record significant gains, around a couple of weeks ago, the crypto community learned that the reason for that boost was the news that Dogecoin (DOGE) plans on moving to the Ethereum blockchain where the DOGE could be used with ETH smart contracts.
“We don’t regularly do technical content off this account, but as a lot of people are asking – there was a demo of the bridge today, and yes it worked. Yes, the demo was a success! You can watch it! It’s very technical, but I do talk about my plans at the end,” said Ross from the Dogecoin Devs.
Will Dogecoin (DOGE) go to the Moon?
While Dogecoin (DOGE) is a top cryptocurrency regarding the daily transactions number, surpassing much bigger cryptos in this regard, many crypto enthusiasts think DOGE is not capable of gaining much regarding price because of users can mine Dogecoins unlimitedly. With that in mind, some of these guys believe that DOGE can reach a maximum of $1.
On the other hand, there are the Dogecoin (DOGE) enthusiasts who believe their favorite crypto would go to the Moon eventually and trade much higher than other cryptocurrencies. They think that the speed and low-cost of the Dogecoin (DOGE) blockchain would finally pay off.
Now, with the latest news and DOGE plans in mind, we incline to consider that Dogecoin (DOGE) would indeed surge regarding market cap and adoption, but it’s hard for it, at least for the moment, to skyrocket concerning its price against the USD.