Dogecoin has surged by 5% in the last 24 hours, reaching $0.105. This increase is linked to the release of core update 1.14.8 by the developers.
The update addresses critical bugs and enhances the transaction processing capabilities of the Dogecoin protocol, leading to greater overall efficiency.
While this update has contributed to today’s price boost, Dogecoin remains down 10% over the past week and 19% over the past two weeks.
Nonetheless, the latest update underscores ongoing improvements in Dogecoin’s stability and performance, suggesting that the coin’s price could soon recover from these recent losses.
Dogecoin Major Update: Impact of Core 1.14.8 on the Network
As detailed on its GitHub page, Dogecoin Core 1.14.8 is a new minor version update that brings several notable improvements.
These improvements include improvements to transaction request tracking and orphan transaction handling, as well as reducing data that can reduce throughput.
Although these changes are minor, they highlight Dogecoin’s ongoing, steady development.
They also demonstrate the developers’ commitment to positioning DOGE as a viable option for online payments.
Moreover, there are reports that X may soon introduce a payment feature on its social network, which bodes well for Dogecoin as it continues to improve its efficiency and reliability.
The market appears to share this optimism, with DOGE rising 5% today.
Analyzing Dogecoin’s chart, it has gained some momentum in recent days, with its relative strength index (purple) climbing from 20 on Monday to 70 last night.
Despite a slight pullback recently, DOGE’s 30-period moving average (orange) is still trending upward toward its 200-period moving average (blue), indicating the possibility of a golden cross.
If this golden cross materializes, Dogecoin’s price could see a breakout, which has been anticipated for several weeks.
With the market gradually recovering and a potential rate cut in September, DOGE could experience a sharp rise.
It might reach $0.15 in the next few weeks, climb to $0.2 in the fourth quarter, and potentially hit $0.4 by the end of the year.
New memecoins perform strongly
For some traders, Dogecoin’s progress might appear slow and modest, leading them to consider diversifying into emerging cryptocurrencies.
While the quality and potential of new coins can vary widely, some have a tendency to outperform the market significantly, especially when they are listed on new exchanges.
This is particularly true for pre-sale tokens, and one of the most promising new examples is Base Dawgz (DAWGZ), a multi-chain cryptocurrency that has already raised over $2.8 million in its token sale.
DAWGZ is one of the few multi-chain meme coins available, operating across Ethereum, Base, Solana, Avalanche, and BNB Chain.
By leveraging multiple blockchains, DAWGZ can reach a broader audience of potential users and holders.
This increased exposure is likely to support its price growth over time and facilitate its adoption on more platforms.
Additionally, DAWGZ taps into the popular Shiba Inu meme, with a skydiving dog mascot that aligns with the thrill of cryptocurrency investing.
The coin’s X account has already attracted over 5,000 followers, hinting at its potential for significant growth post-launch.
DAWGZ has a capped supply of 6.453 billion tokens, with 20% allocated for pre-sale and another 20% designated for staking.
New investors can participate in the sale by visiting the official Base Dawgz website, and the current price of 1 DAWGZ is $0.007414.