Your Portfolio:
Whats going on with Dogecoin? - a Investigation

Whats going on with Dogecoin? - a Investigation

Dogecoin has grown over 100% in the last two weeks and 44% yesterday alone. The daily trading volume increased 2800% from 5 million $ a few days ago to 144 million $. How can an inflationary currency that was invented as a joke can rise this sharply in price?
The answer is Dogethereum.

Now it gets confusing and a lot of people drew false conclusions.

What is Dogethereum?

The name "Dogethereum" is used for two projects:
  • Doge-Ethereum Bridge: joint-venture with Ethereum in form of a Doge-Ethereum bridge (a Rinkeby project). This project is supported by the Dogecoin developers. The goal is to ride Dogecoin on the Ethereum network and enable smart-contract functionality. This will be implemented in the Rinkeby testnet. No new coins will be created with this project.

  • Dogethereum (DOGX) Hard Fork: Dogecoins first Hard Fork. The new coin will run on a new blockchain and it will be airdropped to DOGE-holders at a 1:10000 rate. The creators are constantly changing their project, initially, it was planned to airdrop at a rate of 1:1. This project is not supported by the Dogecoin devs! The fact that this project chooses this name highly implicates a cash-grab. I assume this was done with the purpose of creating confusion and profit from the aftermath of that mess.

Be aware and don't buy DOGE right now. If the public catches on and interprets this information correctly, a dump can be expected. The market is overreacting right now.