Dogecoin Market cap hits $1 Billion, Also growing along with other Cryptocurrencies

Nishanth Shetty

Nishanth Shetty

January 6, 2018 12:46 pm

3656 Total Views

Dogecoin News

From past few months, Dogecoin‘s price is increasing constantly and have also reached 400 percent as well; through reaching a new all-time high above 0.01.

The price growth has pushed dogecoin’s market capitalization more than $1 billion, according to the Coindelite price Chart.

Yet while more than $101 million in trading volume was seen in dogecoin over the past 24 hours, the creator of the project is worried this is a sign of broader market excess.

Jackson Palmer, the founder of Dogecoin, who left the team in 2015, said:

“The fact that most conversations happening in the media and between peers focus on the investment potential is worrying, as it draws attention away from the underlying technology and goals this movement was based [on].”

Palmer included:

“I have a lot of faith in the Dogecoin Core development team to keep the software stable and secure, but I think it says a lot about the state of the cryptocurrency space in general that a currency with a dog on it which hasn’t released a software update in over 2 years has a $1B+ market cap.”

The developers of Dogecoin seemed equally surprised by the growth because they have shown more enthusiasm on the cryptocurrency.

The developer Patrick Lodder said:

“To me, this proves that we don’t need shiny features or a ton of innovation and even with a conservative – and in my own case completely distracted – development team for a boom.”

Max Keller, another dogecoin developer, said:

“It’s a little scary when you work on software that powers a billion dollar network. This is quite the responsibility. And also one of the main reasons why we are so reluctant to just slap any ‘innovative’ tech into the reference client. Still, I am proud of what we achieved and thankful to be part of such a great community.”

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