Dogecoin becomes second largest PoW cryptocurrency

[Crypto Barik]

Meme-inspired cryptocurrency Dogecoin (DOGE) is now officially the second largest proof-of-work (PoW) crypto in terms of market cap, following the Ethereum network's proof-of-stake upgrade on Sept. 15.

Bitcoin (BTC) of course remains miles ahead of Dogecoin’s market cap of $7.83 billion, though the well-followed memecoin is still comfortably ahead of the third place PoW cryptocurrency Ethereum Classic (ETC) (with a market cap of $4.69 billion), Litecoin (LTC)  ($4.01 billion) and Monero (XMR) ($2.65 billion).

One Dogecoin fan appeared to be in disbelief of Dogecoin’s rise to become the second largest PoW cryptocurrency, stating “who would have thought that this would happen. Congrats #Dogefam.”

(Source: Cointelegraph [nofollow])

[herorameshdas]

You didn't say something of your own about the article you copied and pasted with the link, we expect a piece of what you think as well considering you started the topic. Dogecoin may soon become the first on PoW or second on PoS, depending on if bitcoins transition first or they do. If asked some months ago, I would have picked litecoins as the next to succeed ETH as second largest PoW, but here we are. The announcement however did not seem to have any major effect on the price of Dogecoin.

[mu_enrico]

It's good tho, even when the coin is a merged mining one (DOGE + LTC), at least they use ASIC and not GPUs. But I'm afraid that ETH classic or ETH Pow will soon become the new ETH. I have no complaint if GPU mining is extinct since they disrupt the GPU market. The price of GPUs is crazy compared to 10 years ago.

[TomPluz]

This is just an interest fact in light of the move of the Ethereum network from being in the PoW market into the hugely less power intensive PoS. all the fears and speculations on Ethereum will be proven true or false in the coming years. As for Dogecoin, this surely do not have any impact on its price movement today and in the coming months. Right now, the market relatively remains the same that even the Merge has not produced any surprise (which many can be expecting) for its price in the market.

[Evgenklm]

the era is gone) ETH was the best for POW, maybe DOGE will successfully take the place of ETH on this and the price will only grow...but no, these are two different coins and projects, DOGE is a meme coin and that's all that can't be said about ETH

[shuvenker999]

I'm a little confused about dogecoin. I know this coin uses POW system mining but judging by other POW coins such as Monero and Litecoin, why is Dogecoin actually above them even though Dogecoin seems to have absolutely no utility compared to the two coins. Is the community so much on dogecoin that it makes dogecoin the second POW.

[gurunanakji777]

It means Dogecoin's popularity is increasing whether Elon supports it or not but the sad part is Dogecoin is very far from its All time high. Many investors are stuck and holding Doge because they don't want to book the loss and hope Doge will rise again like when Elon supports it.

[de_prof]

It means Dogecoin's popularity is increasing whether Elon supports it or not but the sad part is Dogecoin is very far from its All time high. Many investors are stuck and holding Doge because they don't want to book the loss and hope Doge will rise again like when Elon supports it.

Yeah, the popularity of doge coin investors because electronic n musk support this coin.
Although it's just me coin, but many investors still believe on it
They believe doge price will soar

[Fenix]

While the bearish period continues in the cryptocurrency market, the price of dogecoin follows the market movements. But we do not know how this coin will behave when the market starts to rise again. Anyway, I'm not going to invest in this coin anymore. This coin rose on the hype, which means that after a while its price may fall again. Therefore, investing in it is already too risky. So far, dogecoin has a capitalization of more than $7 billion, but these are the funds that were invested during the period of artificial hype. She can fall as quickly as she rose. But time will tell how the situation will develop further.

[Hope4life]

This is interesting news, at first these coins are just a joke but sometimes even jokes with a strong community are able to do that. previously it was in the #3 spot for the largest PoW blockchain and now it replaces ethereum after the merge, this will further strengthen the position of this meme coin.

[Cutter Cute]

Hasrate increase is seen when Ethereum successfully merges, there are many coins that can be mined, but this memecoin again makes a lot of surprises, I'm still looking for affordable POW coins like ETHW, Doge seems to be able to reach $ 1 if ETH miners switch to mining Doge

[Daniel_H938]

 Thank you for sharing

[Callisto]

I think the time for dogecoin has passed, and also Elon Musk no longer hypes him, and even if he had hyped, they would hardly have believed him again. I will say more, I even forgot about this coin, because you should not forget that this is a zayp coin, without hype it cannot survive in the competition of the crypto world.