While Solana (SOL) and Cardano (ADA) broke their all-time highs and drew attention to the series, market watchers are still getting interesting comments about altcoins like DOGE. In this context, Dogecoin comment came from a famous market expert. Here are the details…

Dogecoin comment from Pac Protocol CEO

The CEO of Pac Protocol, who is also a member of the Forbes finance council, reported on Twitter that Dogecoin could continue to evolve if it becomes the subject of a significant use case as well as functioning as a payment method. David Gokhshtein used the following expressions:

If DOGE gets a secondary use case – event ends. So now the sky is the limit.

Can DOGE evolve into something bigger?

A large number of emerging altcoins in the market, such as Solana and Cardano, are being adopted significantly by traders and institutions due to their wide use cases. For Dogecoin to try to offer another use case, the network needs to identify the significant value it can bring to the market as competition continues to strengthen. However, according to some, the move to a Proof-of-Stake (PoS) chain could also come in handy to accelerate Doge’s market dominance.

Ethereum co-founder Vitalik Buterin recently stated that it would be important for Doge to migrate to a Proof of Stake chain. Buterin said, “Personally, I hope Doge will be able to switch to PoS soon, perhaps using Ethereum code. I also hope they don’t cancel their annual 5 billion PoW issuances, but instead put them in some sort of DAO that funds global public goods. “It would fit well with Dogecoin’s non-greedy values.”

DOGE developer explains PoS possibility

However, the probability of this remains unclear. Commenting on what Buterin said, Dogecoin core developer Ross Nicoll and community leader Gary Lachance stated that they cannot say anything definitive for PoS. Nicoll said in an interview, “Personally, I would love to see PoS discovered. But I can’t tell you when that will happen, and I have to convince others. So you can say definitely for me. But there are a lot of people to be convinced,” he said.

Dogecoin is down 8.7 percent at the time of writing and is changing hands at $0.219. meme coin, Cryptocoin. com

As we reported , it was one of the most affected by the decline wave that took place in the morning saadollar series and affected the entire crypto money market.

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Michael Lewis


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