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Dogecoin Foundation Director Timothy Stebbing has weighed in on what utility means for Dogecoin and the current drive to push utility for the dog coin.
According to Stebbing, utility equates adoption for Dogecoin and means "What can I do with my Dogecoin? Where can I spend it?"
The Dogecoin Foundation director stated that while tools have been developed for holders in this regard, the time has now come for tools to be created for merchants to raise Dogecoin's utility to the next level.
Stebbing noted that "houseofdoge," the official corporate arm of the Dogecoin Foundation, is building merchant solutions, starting from the grassroots first and building up the chain to enterprise. The aim of this is to move the needle on acceptance, bringing the next billion people into the ecosystem.
In a separate tweet, Stebbing criticized the notion portrayed by some members of the crypto community of "Dogecoin being a joke," noting that this reflects the need to build tools for the community to mobilize the next generation of merchants and hustlers to do business better, faster, stronger on the Dogecoin layer 1.
Dogecoin ETF welcomes option trading
In exciting news for Dogecoin, digital asset manager Rex Osprey has announced that options are now trading on the REX-Osprey DOGE ETF, DOJE, giving investors greater flexibility to hedge positions, pursue income potential and respond quickly to opportunities in the evolving digital asset landscape.
DOJE is the first spot DOGE ETF in the U.S., launched in the past week, to the excitement of the crypto community.
Dogecoin has seen increased whale activity in the last 24 hours. According to Whale Alert, 126,275,187 DOGE worth $29,860,454 were transferred from Gate to an unknown wallet. A total of 349,400,000 DOGE worth $83,281,841 was also transferred between unknown wallets. On Sept. 23, 800,000,000 DOGE worth $189,773,571 were transferred from an unknown wallet to Binance.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team