Dogechain

price
change

Discover Dogechain's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Dogechain?

Dogechain (DC) is an EVM-compatible, layer-2 blockchain designed to complement the original Dogecoin cryptocurrency. It aims to enhance Dogecoin's capabilities by providing scalability, security, and utility through smart contracts. Dogechain operates on a proof-of-stake (PoS) consensus mechanism, ensuring a decentralized and permissionless network. It also offers cross-chain compatibility, allowing Dogecoin to be easily utilized on the Dogechain network. The native token, $DC, has a total supply of 1 billion and is used for various purposes within the ecosystem, including governance and staking.

How is Dogechain used?

Dogechain (DC) is the second native currency of the Dogechain blockchain, which is designed to complement the original Dogecoin cryptocurrency. The primary uses of the Dogechain token include:

  1. Staking and Governance: DC tokens are used as an incentive for staking and governance on the Dogechain network. Token holders can participate in governance activities by locking their tokens for up to four years, which earns them governance tokens (VeDC) that can be used to vote on proposals or create new proposals.

  2. Transaction Fees: DC tokens can be used to pay transaction fees on the Dogechain network.

  3. Validator Nodes: Token holders can set up validator nodes using DC tokens, contributing to the network's decentralized infrastructure.

  1. Community Incentives: A significant portion of the total supply (58%) is reserved for airdrops to supporters, incentivizing validators, rewarding stakers, and providing community grants for developing on Dogechain.

Overall, the Dogechain token plays a crucial role in maintaining the decentralized and community-driven nature of the Dogechain ecosystem.

How do I store Dogechain?

To store Dogechain (DC) tokens, you have several options:

  1. KuCoin Account: You can store your Dogechain (DC) in your KuCoin account, which provides quick access to trading products like spot and futures trading, staking, and lending. KuCoin serves as the custodian of your crypto assets, ensuring security and convenience.

  2. Non-Custodial Wallets: For enhanced security, you can withdraw your Dogechain (DC) to a non-custodial wallet, such as hardware wallets, Web3 wallets, or paper wallets. This option grants you complete control over your private keys but may be less convenient for frequent trading.

  3. Cold Wallets: Cold wallets, which are offline, are considered the safest way to store your coins or tokens. They are disconnected from the internet, reducing the risk of hacking and unauthorized access.

  1. Software Wallets: Software wallets, also known as hot wallets, are connected to the internet and are less secure than cold wallets. Examples include Trust Wallet and Metamask. These wallets are more convenient for frequent trading but are more vulnerable to hacking.

  2. MEXC Account Wallet: You can also store your Dogechain (DC) in your MEXC Account Wallet, which allows for easy trading and staking.

Regardless of the method you choose, it is crucial to set up strong passwords, enable two-factor authentication, and store your private keys securely to protect your assets from unauthorized access.

How to buy Dogechain?

To buy Dogechain (DC) tokens, follow these steps:

  1. Choose a Reliable Exchange: Select a reputable centralized exchange (CEX) that supports Dogechain, such as KuCoin, CoinEx, gate.io, or MEXC. Ensure the exchange is available in your country and offers the necessary trading features.

  2. Create an Account: Register on the chosen exchange's website or mobile app, providing required personal information and completing any necessary identity verification steps (KYC).

  3. Fund Your Account: Deposit funds into your exchange account using methods such as credit cards, bank transfers, or peer-to-peer trading. Some exchanges also support third-party payment services.

  1. Buy Dogechain: Navigate to the exchange's buy/sell section, select Dogechain (DC) as the cryptocurrency to purchase, and choose the desired order type (market, limit, or stop order).

  2. Transfer to Wallet (Optional): If you want to store your Dogechain tokens securely, transfer them to a personal cryptocurrency wallet like Trust Wallet or Metamask Wallet.

Remember to research the exchange's fees, security features, and supported currencies before making a purchase. Additionally, consider your investment approach and storage options carefully.

Discover
Dogechain
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

History of Dogechain

Dogechain (DC) is an EVM-compatible layer-2 blockchain designed to complement the original Dogecoin cryptocurrency. It aims to enhance the capabilities of Dogecoin by providing scalability, security, and utility through smart contracts. Dogechain operates on a proof-of-stake (PoS) consensus mechanism, ensuring a decentralized and permissionless blockchain. It also features decentralized governance, allowing community members to participate in decision-making processes.

Dogechain was launched with a total supply of 1 billion tokens, and its initial allocation included a significant portion held by the developer. The token was airdropped to wallets that used Dogechain before a specific date, but the developer's large holding and subsequent dumping of tokens raised concerns about the project's legitimacy.

Despite these controversies, Dogechain continues to operate, offering a range of features such as cross-chain compatibility, allowing Dogecoin to be utilized on the Dogechain network. The project also supports DeFi products, NFTs, and GameFi, all powered by the original Dogecoin tokens.

Discover
Dogechain
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

How Dogechain works

Dogechain (DC) is a cryptocurrency token that operates on the Ethereum platform. It aims to bring crypto applications like NFTs, games, and DeFi to the Dogecoin community. Here's an overview of how it works:

Key Features
  • Token Supply: Dogechain has a circulating supply of around 29 billion tokens and a maximum supply of 200 billion tokens.
  • Trading: Dogechain tokens can be traded on both decentralized and centralized exchanges, with popular options including Quickswap, MEXC, and KuCoin.
  • Price Calculation: The price of Dogechain is calculated in real-time by aggregating data across multiple exchanges and markets, using a global volume-weighted average formula.
Technology and Blockchain
  • Ethereum Platform: Dogechain operates on the Ethereum blockchain, leveraging its infrastructure and smart contract capabilities.
  • Smart Contracts: Dogechain uses smart contracts to facilitate decentralized applications (dApps) and services within its ecosystem.
Market Performance
  • Market Capitalization: Dogechain's market capitalization is around $29.2 million, ranking it among the smaller cryptocurrencies.
  • Trading Volume: The 24-hour trading volume of Dogechain is around $5.59 million, indicating moderate market activity.
  • Price Performance: Dogechain's price can be volatile, with significant fluctuations over short periods. It has experienced both price increases and declines in recent times.
Community and Use Cases
  • Dogecoin Integration: Dogechain is designed to supercharge Dogecoin by bringing advanced crypto applications to its community.
  • Use Cases: Dogechain aims to support various use cases such as NFTs, games, and DeFi services, enhancing the overall Dogecoin ecosystem.
Security and Development
  • Security Audits: Dogechain has undergone security audits to ensure the integrity of its smart contracts and blockchain infrastructure.
  • Development: The Dogechain team continues to develop and improve its ecosystem, with a focus on fairness, equal opportunity, and community ownership.

Overall, Dogechain is a cryptocurrency token that leverages the Ethereum blockchain to bring advanced crypto applications to the Dogecoin community. Its market performance is influenced by various factors, including trading volume, market capitalization, and community sentiment.

Discover
Dogechain
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Dogechain's strengths

The token Dogechain (DC) has several strengths:

  • Scalability: Dogechain is designed to increase the scalability of Dogecoin by providing a layer-2 blockchain that allows for faster and cheaper transactions.
  • Security: Dogechain uses a proof-of-stake (PoS) consensus mechanism, which ensures a permissionless and decentralized blockchain.
  • Utility: Dogechain enhances the utility of Dogecoin by providing access to decentralized applications (dApps), non-fungible tokens (NFTs), and GameFi, all indirectly powered by the original Dogecoin tokens.
  • EVM Compatibility: Dogechain is EVM-compatible, allowing existing Ethereum smart contracts to be easily migrated without modification.
  • Decentralized Governance: Dogechain operates as a decentralized autonomous organization (DAO), where token holders can participate in governance decisions by locking their tokens and voting on proposals.
  • Cross-Chain Compatibility: Dogecoin can be easily utilized on the Dogechain network by wrapping the Dogecoin via the Dogechain bridge, and sent back to the Dogecoin network as needed.
  • Community Focus: Dogechain prioritizes its community, with a significant portion of the token supply allocated to community airdrops and governance.
  • Flexibility: Dogechain allows users to wrap their Dogecoin into Dogechain smart contracts, receiving wrapped Dogecoin (wDOGE) tokens that can be used to access various decentralized applications.

Dogechain's risks

Dogechain (DC) carries several financial risks that investors should be aware of. The primary risk assessment from InvestorsObserver indicates that Dogechain is a moderate to high-risk investment, with a risk score that fluctuates over time. This score is based on the amount of money required to move the price over a 24-hour period, considering changes in volume and market capitalization. A low score indicates high risk, while a high score represents low risk.

Additionally, Dogechain's price can be volatile, as seen in its historical price performance. It has experienced significant price swings, reaching an all-time high and then dropping to a low point. This volatility can lead to significant losses for investors who buy at the wrong time.

Another risk factor is the potential for market manipulation due to limited trading activity. Dogechain's market capitalization is relatively small, making it more susceptible to price manipulation by large traders or market actors.

Furthermore, as a cryptocurrency, Dogechain is subject to broader market trends and regulatory changes. Any negative developments in the cryptocurrency market or stricter regulations could negatively impact Dogechain's value.

Lastly, investing in Dogechain, like any cryptocurrency, involves inherent risks. Market predictions and price forecasts are speculative and may not materialize, leading to financial losses. It is essential for investors to conduct thorough research, consider multiple sources, and potentially seek professional advice before investing in Dogechain.

Discover
Dogechain
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Did Dogechain raise funds?

Discover
Dogechain
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Dogechain’s team

  • Roc Zacharias: Quickswap co-founder, involved in the Dogechain project, as indicated by his Twitter bio.

Whalee AI

The fundamental analysis assistant for crypto value investors.

Dogechain NEWS REPORT

Latest news

Want an analysis of Dogechain? Tell us on discord.

Similar tokens

shiba-inu
Shiba Inu
floki-inu
Floki Inu
meme
Memecoin
sats
SATS
mew
cat in a dogs world
Help us improve!
Tell us what you think of this page and which features you would like to see next.
OPEN FORM