Dogecoin founder proposes Ethereum-Doge link and NFT as ways to pump up DOGE network

With the price falls that have afflicted the market, Dogecoin’s pace has slowed. Transaction count data have revealed that Dogecoin’s performance is diminishing as the asset sheds more value.

On Sunday, the price of Dogecoin was $0.220334, down 0.6% in the previous 24 hours, according to the Coingecko price chart.

In September, Bitcoinist claimed that Dogecoin’s transaction count had plunged to levels not seen since 2017.

The number of daily transactions had plummeted to 16,441 per day, according to on-chain data. This indicated a drop in enthusiasm in the cryptocurrency, which had been mostly based on hype.

Dogecoin’s use cases, or lack thereof, have hampered the digital currency’s ability to grow to its full potential.

This is why, as the altcoin’s popularity grew, Doge developers took attempts to broaden the coin’s utility beyond its monetary policies. Some of these have reduced transaction fees to make Doge a more appealing cryptocurrency payment alternative.

Dogecoin co-founder is back at it

Billy Markus, a co-founder of Dogecoin, had re-entered the Dogecoin market after selling all of his crypto holdings.

Markus has “re-immersed” himself in the Dogecoin scene after a brief hiatus. He recently proposed a Dogecoin-Etheruem bridge and non-fungible token support for the cryptocurrency, which he believes would help boost acceptance.

The implementation of the DOGE-ETH acts as a payment option for NFTs on platforms like OpenSea, Markus said. He explained that the huge demand for NFTs, as well as the ability to buy them using Doge, will improve the digital asset’s utility.

The payments space has been one area where Dogecoin has seen significant utility. Its cheap transaction costs make it a good choice for simple transactions like buying concessions at a cinema or paying for movie tickets.

After a week of low momentum, Dogecoin has experienced a huge price increase as the week draws to a conclusion.

The price oscillated between holding the $0.2 price level and going below it, reaching month-lows in the process. Although, as it climbs back above $0.21, the weekend may bring some good news for the digital asset.

Image courtesy of Cointelegraph News/YouTube

Source: https://bitcoinerx.com/bitcoin/dogecoin-founder-proposes-ethereum-doge-link-and-nft-as-ways-to-pump-up-doge-network/