Dogecoin (DOGE) Up 55 Percent As Team Develops Smart Contracts
The price of Dogecoin (DOGE) is up 55% against the U.S Dollars as the general market rises over the past few hours.
The cryptocurrency was trading at $0.0037 yesterday but has experienced a massive surge in price to now trade at $0.0056. The spike in price coincides with news of a potential link to the Ethereum network.
There are reports that the Dogecoin development team is expanding its project a “Dogethereum” version, a smart contract allowing for a direct swap, making DOGE exist on the Ethereum network.
Dogethereum is expected to launch in the coming days. Doge’s market cap yesterday was just $49 million but has gone up by more than $60 million to now stand at $115 million. So far, there has been no announcements on its official website or its Twitter handle.
According to Blocktivity, DOGE is the seventh most active coin, with around 50,000 transactions per day recently, surpassing both BCH and Litecoin (LTC). DOGE is used in micropayments and tipping, due to its low fees.