Dogecoin Fund Announced: DOGE Price Jumped!


Announced Dogecoin Core development fund and allocated 5 million DOGE tokens. DOGE price spiked within an hour.

Dogecoin Core development fund

In an official announcement on December 31, the DOGE Foundation announced the establishment of a new community Dogecoin Core development fund. The DOGE Foundation initially transferred 5,000,000 DOGE to the development fund.
Development is led by current core developers and the Dogecoin Foundation board director signatories. Along with this, the team will ensure that 5 million DOGE are allocated to Dogecoin Core. The development of the kernel is critical and benefits the DOGE ecosystem. To maintain transparency, the team will post blog posts about all spending and developments. The new multi-signature wallet will be operated by DOGE Core developers and DOGE Foundation members. DOGE held in the wallet will be paid out efficiently to Dogecoin Core developers. This requires three of the keepers’ five signatures.

Those responsible include Chromatic (Dogecoin Core developer), Marshall Hayner (Dogecoin Foundation Board), Michi Lumin (Dogecoin Core developer, DOGE Foundation Board), Patrick Lodder (DOGE Core developer) and Ross Nicoll (Former DOGE Core developer). The custodians do not have any rights over the money held in the wallet. According to BitInfoCharts, the wallet address currently holds 4,999,999.90 DOGE tokens worth approximately $342,000. Additionally, the DOGE Foundation has added Marshall Hayner to its board of directors for his contributions to DOGE development. The following words are included in the statement:

“His consistent dedication to the Dogecoin community and the development of Dogecoin has inspired many. Marshall brings executive and technical leadership experience to the Dogecoin Foundation and was instrumental in establishing this foundational development fund.”

DOGE Price Increases As we mentioned earlier, the DOGE price has risen relatively high in recent weeks, as Elon Musk has hinted at Dogecoin’s integration with Twitter for payments. As it is known, DOGE is the largest meme coin by market capitalization. However, the DOGE price rose 2% in just one hour after the foundation announced its development fund.

Most bullish claims about DOGE are that it will become an accepted currency on Twitter. This is believed to help secure long-term use cases for DOGE. However, momentarily, the DOGE price is trading at $0.0702, up about 4% in the last 24 hours. Also, DOGE has 24-hour lows and highs of $0.0669 and $0.0703, respectively.


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