Even in the midst of the bear market, investors seem to be turning their focus to meme coins, which have been drawing attention. Not all meme coins are worth your time, but some of the top ones, like DOGE and Shiba Inu, have been attracting a lot of attention.
Dogecoin was initially intended to be a joke. Since its release in 2013, DOGE, which features a Shiba Inu dog, has become a well-known internet meme. Once Elon Musk started talking about it, the currency flourished in the spotlight. Following that, the meme currency has displayed some temporary gains each time Elon tweets about DOGE.
Compared to Shiba Inu, Dogecoin has been on a slow pace in terms of development. To push that statement aside, Dogecoin has unveiled its upgraded website. According to the tweet from its official Twitter handle, the website has gone live.
To build the new website, a community of people was gathered to work on new features and previews. A preview of the website was launched in June that gathered feedback regarding the required changes.
The upgraded website now supports over 9 languages, with sections highlighting what is Dogecoin, many wallets, community, and Dogepedia, which includes educational articles and how-to’s, as well as other resources.
DOGE shows signs of recovery as the market trades in the green
The market that slumped and drowned in red yesterday has flipped, showing signs of a slight recovery. Top cryptocurrencies, including bitcoin and ethereum, have gained 2.57% and 7.49%, respectively.
Dogecoin has also displayed slight gains with over 3.6% growth in the last 24 hours. DOGE is currently trading at $0.063 at the time of writing. Comparing it to its all-time high of $0.7376 in May 2021, DOGE is way down by 91.45%. It still has a long way to pass its previous milestone.
As for the rumor of whether DOGE will hit $1 by the end of 2022, analysts state that such a possibility is meager, and DOGE could remain to trade under a cent in the next five months.