Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Dogecoin has been pushed out of the top 10 cryptocurrencies by market capitalization by Polkadot (DOT). Dogecoin now ranks as the 11th largest cryptocurrency with a market worth of $9.28 billion after relinquishing its previously held 10th position to Polkadot, which now has a market worth of $9.62 billion.
During the week, Japanese cryptocurrency exchange Bitbank added support for the duo of Dogecoin (DOGE) and Polkadot (DOT), as reported.
Dogecoin prices remain in range
Dogecoin's price largely remains unchanged despite a slew of positive news in the week highlighted by a new release, exchange listing and renewed backing from Tesla CEO, Elon Musk.
As reported by U.Today, Michi Lumin, Dogecoin core developer, has announced the initial release of Libdogecoin, a C library of Dogecoin building blocks. Without the requirement for developers to have in-depth knowledge of blockchain technology, Libdogecoin is a C library that enables lightweight direct integration of Dogecoin into several platforms.
During a recent appearance on the "Full Send" podcast, Tesla CEO Elon Musk reiterated his support for Dogecoin. In response to a query on cryptocurrencies, Musk stated, "I'm mainly supporting Doge, frankly," while saying that it had "memes and dogs."
Musk asserts that despite being intended as a "ridiculous joke currency," Dogecoin has "real utility." He stated that compared to Bitcoin, Dogecoin has a larger transaction capacity.
The price of Dogecoin was $0.069 at the time of publication, slightly up over the previous day. Since the beginning of August, its price has been stuck in a range due to a barrier of $0.075. The general cryptocurrency price action remains lackluster as the crypto market continues to be plagued by macroeconomic concerns.
Arman Shirinyan
Alex Dovbnya
Dan Burgin
Vladislav Sopov