Dogecoin Co-Founder Suggests a Coalition Between Ethereum and DOGE

1 October 2021 | Updated: 1 October 2021

Co-founder of Dogecoin (DOGE) Billy Markus commented on the potential benefits a coalition between Ethereum and the Doge network would bring to the Dogecoin ecosystem.

The tenth-largest cryptocurrency has gained over 6,000% in the past 12 months, peaking at the $0.7310 Level in early May. However, the meme cryptocurrency currently trades down by 70% from its all-time high of $0.7310.

While co-founder Jackson Palmer has criticized the cryptocurrency industry, asserting that DOGE “has become a tool managed by powerful cartels,” Billy Markus adopts a more positive outlook for the cryptocurrency.

On Wednesday, Markus took to Twitter to discuss the crypto asset he helped develop and how to improve the project by “adding two things.” The DOGE co-founder noted that:

“Two things I believe would help Dogecoin: [The] completion of DOGE↔ETH bridge, [and] NFT platforms (e.g. Opensea) allowing for the DOGE-ETH token to be used for purchases.

NFT purchasing is [in] high demand with crypto. Allowing for DOGE purchases of NFTs greatly increases its utility.”

Markus’ proposition comes after similar suggestions from Ethereum CEO Vitalik Buterin in September. Buterin stated that:

“Personally, I hope that DOGE can switch to PoS soon, perhaps using Ethereum code.

“I also hope they don’t cancel the 5b/year annual PoW issuance, instead they put it in some kind of DAO that funds global public goods. Would fit well with Dogecoin’s non-greedy wholesome ethos.”

Key Dogecoin Levels to Watch — October 1

Amid a massive bullish recovery, which helped the crypto market gain 8%over the past 24 hours, Dogecoin appears to be struggling with mustering any significant rally. DOGE continues on its quiet price action due to the absence of trading volume.

DOGEUSD – 4-Hour Chart

We could see DOGE struggle with the $0.2200 resistance in the coming hours, which could push the price back towards the $0.2000 mark. Except more trading volume gets pumped into the market soon, a break above the $0.2200 – $0.2250 seems unlikely.

Meanwhile, our resistance levels are $0.2200, $0.2250, and $0.2400, and our support levels are $02060, $0.2000, and $0.1900.

Total Market Capitalization: $2.07 trillion

Dogecoin Market Capitalization: $28.3 billion

Dogecoin Dominance: 1.37%

Market Rank: #10

 

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.