Second, DOGE surged in price right when Bitcoin hit the first peak of its double-top chart pattern in 2021.
After all, the value of DOGE is only speculative, so a cool-off period was assured. Propelled by a flurry of Elon Musk tweets, its price exploded in value right when the “meme coin/stock” frenzy hit its absolute peak. The reasons for this price crash are manyfold.įirst, DOGE was never going to maintain the astronomic price surge it experienced in the first half of 2021. DOGE is down more than 70% from its all-time high in May 2021 and currently trades around $0.17 AUD. Since having its heyday in spring 2021, when Dogecoin was one of the top 10 cryptocurrencies per market capitalization, the popular meme coin has seen its value significantly diminish. The extremely challenging environment the Foundation is operating in causes every step of the process to be more complex than the previous one, but Nicoll was bullish about the progress the Foundation is making. A key challenge of the Dogecoin community is to cooperate to avoid exposing the Foundation to legal risks. In his explanation of the overall situation of the Dogecoin Foundation, Nicoll quoted several trademarks being registered under Dogecoin as the main challenge in 2021. Over the transition period of four to eight weeks, Nicoll said that he would remain as an advisor to the project, adding that his main concern was unknown third parties claiming to be the coin’s core developers. Nicoll published his letter of resignation on February 16, saying that he was overwhelmed with stress and citing a conflict of interest between working on Dogecoin and working on his day job, which is shifting to the blockchain industry. One of them is Ross Nicoll, the former core developer of the Dogecoin Foundation. But only the most hardcore Dogecoin enthusiasts will be aware of the people behind the project. Dogecoin loses its core developerĪlmost all of us know Dogecoin for being the likable meme cryptocurrency inofficially chaired by Elon Musk.
#Dogecoin core update#
The team would like to merge these fixes in the next update but as of now, they don’t have such a high priority. These include cleaning and rebasing of the code, potential performance fixes, and clean-ups for compiling and non-blocking. Following that, the team is hoping to work on some other potential fixes that may or may not merge in this update. The team has kept all these changes at the highest priority. Finally, the team is looking at adding an easy-to-use gitian script. The upcoming update focuses on fixes such as the recent known Bitcoin vulnerability, protection of wallet uses with upgrades, potential vulnerabilities and lowering the costs for utilizing Dogecoin core wallet.īesides that, the update will allow users enabling incoming work on addr messages. I will make a tracker for the release so that everyone can see where we’re at.” We’ll be focusing on enabling as many contributions to make it into the release, together with the network hardening I mentioned that now not just I but also chromatic is working on. “It is starting to look like we will really be able to do a release of 1.14.6 end of June. Patrick Lodder, a core developer talked about this in a Reddit post: This new update is expected to roll out at the end of June. For the new update, the team has released a checklist that includes all the changes in this new update. One of the more popular meme coins in the world, Dogecoin has announced an update, bringing its core to a version 1.14.6.
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