Founder of Ethereum Vitalik Buterin It just gave up the second spot at the top cryptocurrency spot Dogecointhe world’s first and largest meme-based cryptocurrency. Buterin stated that Dogecoin deserves to be ranked right after that Bitcoin (BTC)Which confirms the importance of the meme currency in the field of cryptocurrencies and its unique cultural impact.
Buterin ranks Dogecoin among the top 2 cryptocurrencies
Teslaran, a member of the cryptocurrency community on X (formerly Twitter), recently released a video Featuring Buterin in an exclusive interview. During the interview, Dr Founder of Ethereum Surprisingly, she endorsed Dogecoin, declaring that it deserves to take second place after Bitcoin as the most prominent cryptocurrency.
This unexpected endorsement captured the attention of the cryptocurrency market, especially because of it Ethereum It has consistently maintained its position as the second largest cryptocurrency after Bitcoin. As the first major cryptocurrency launched after Bitcoin, Ethereum is often viewed as the world’s leading altcoin with the second largest market capitalization.
Ethereum was founded by Buterin in 2013 and launched in 2015. Dogecoin, on the other hand, was created as a light joke in 2013 by software engineers Billy Markus and Jackson Palmer.
As a meme coin, DOGE is usefulDogecoin benefit There is really no comparison to Ethereum. However, the meme-based cryptocurrency has received significant attention and support due to its unique cultural value and playful, playful theme.
DOGE has evolved over the years and has seen significant growth, Community building Millions of investors and supporters develop many innovative projects. Starting from zero value, Dogecoin reached an all-time high of $0.74 in 2021. Furthermore, Market value It has grown to $25 billion.
The rapid growth of Dogecoin and emerging practical applications in the cryptocurrency industry could be the driving force behind this Buterin’s endorsement. Although he founded Ethereum, Buterin considers DOGE superior to Ethereum in certain aspects. The founder of Ethereum has also previously revealed his identity Dogecoin holder.
The analyst expects DOGE’s next upside target to be above $0.2
Cryptocurrency analyst Jake Wujastyk said open new Bullish prediction For Dogecoin price on X (formerly Twitter) on October 29. According to the analyst, DOGE is preparing to Major bull rally It reaches its next upward target between $0.2145 and $0.2295.
Providing a detailed Dogecoin price chart, Wujastyk explained the meme coin’s price movements from 2021 to the present. Based on the previous price action of DOGE in the yearly chart, the analyst believes that the meme coin could see a rally Expected rise above $0.2 Before the end of 2024 or the beginning of 2025.
A rise to $0.2295 would represent a 34.7% increase from its current price. As of writing, Dogecoin price is trading at $0.17, recording a 3.86% increase over the past 24 hours and a 24% rise over the past week, according to CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
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