Cryptocurrency developed on the basis of Dogecoin grew by 228% in a week

The value of Dogechain (DC), a cryptocurrency launched this year based on Dogecoin to provide the DOGE community with access to smart contracts, has increased by 228% over the past week. According to CoinGecko, at the time of writing, DC is trading at $ 0.0016.

Traffic is picking up again frens! 🚀

And it looks like much more is coming with staking and veDC right around the corner 👀 pic.twitter.com/3Wpsrt54W1

— Dogechain💜 (Giving away a Tesla) (@DogechainFamily) October 23, 2022

Dogechain’s developers emphasize the cryptocurrency’s success now, as DC has lost 90% of its value since its historic high in August. The price of Dogechain has been steadily declining for two months from $ 0.004 to $ 0.0004.

Dogechain is an EVM (Ethereum Virtual Machine) compatible second-level blockchain based on Polygon, designed to create an efficient connection between Dogecoin and Web3. Dogechain’s infrastructure allows DOGE holders to transfer their DOGEs to a blockchain with greater technical capabilities. Dogechain is available for trading on about 20 exchanges, and KuCoin and Gate. io process almost 40% of all Dogechain transactions.

As for the Dogecoin meme cryptocurrency, the token is trading for $ 0.059 at the time of writing, having risen in value by just 0.97% over the week. The price of DOGE is significantly influenced by the statements of its fan Elon Musk. On October 5, the Dogecoin rate rose by 8.5% after the news that Tesla and SpaceX CEO Elon Musk was buying Twitter.