Dogecoin has finally mooned, rising some 70% today to take 21st position by market cap with the meme currency jumping in the past two days from $0.002 to $0.006 on considerable volumes of some $170 million for the past 24 hours.
It remains, however, a lot lower than its high of 0.017 in January, but the meme currency has pretty much gone vertical during the past few days.
The reason appears to be because of the launch of Dogethereum which is to be demoed this September 5th after 13 months of development.
The Dogecoin <-> Ethereum bridge “allows Doges to be moved from the Dogecoin blockchain to the Ethereum blockchain and back,” according to their explanation.
The way that works is by in effect cryptographically locking doge or eth and then getting the other coin in the corresponding chain, so it looks unlikely doge will be usable in actual smart contracts, but the shibes are happy and Vitalik is impress.
As presumably are whoever is behind a new coin no one has heard of which claims it is backed by gold. AurumCoin jumped 1,000% or more on volumes of just about $5, before falling by 700% or so to remain up close to 300% at the time of writing.
That vertical up and down has attracted some attention, so its volumes are now up to $125,000 with much green today across the board.
Bitcoin Cash seems to be the biggest gainer as September opens, rising 10% today. They are stress testing the network mining some big block, 15MB being the biggest one yet at the time of writing with 67,000 transactions.
Eth is up too nearly 5% as consensus is finally reached there to reduce issuance by 33% from 3eth per block to ◊2, bring its inflation rate down to about 4.5%, about the same level as bitcoin, once the change goes live sometime this October.
Tether has dropped to ninth position as all turn green today with an Autumn of hope potentially unfolding after months of despair.
Yet January may well continue until the end of the year, who is to know, but many have reason to be cheerful this summer sunny Saturday, especially the shibes who can now play on eth’s blockchain.