founder of ethereum ethereum/ethereum-challenges-vitalik-buterin/amp/” rel=”nofollow noopener” target=”_blank”>Vitalik Buterin just gave up the #2 spot in top crypto to Dogecointhe world's first and largest meme-based cryptocurrency. Buterin has stated that Dogecoin deserves to take the position immediately after bitcoin (btc)which underlines the importance of the meme coin in the crypto space and its unique cultural impact.
Buterin ranks Dogecoin as the second largest cryptocurrency
Teslaran, a member of the crypto community at x (formerly twitter), recently launched ax.com/teslaran_doge/status/1851095299340607698?s=46″ rel=”nofollow” target=”_blank”> video with Buterin in an exclusive interview. During the interview, the ethereum-news/ethereum-solo-staking-made-easier-vitalik-buterin-supports-lower-entry-requirements/amp/” rel=”nofollow noopener” target=”_blank”>founder of ethereum He surprisingly endorsed Dogecoin, stating that it deserves to be second only to bitcoin as the most prominent cryptocurrency.
This unexpected endorsement caught the attention of the crypto market, particularly because ethereum-price-back-above-4000/amp/” rel=”nofollow noopener” target=”_blank”>ethereum has consistently maintained its position as the second largest cryptocurrency after bitcoin. As the first major cryptocurrency launched after bitcoin, ethereum is often considered the world's leading altcoin with the second largest market capitalization.
ethereum was founded by Buterin in 2013 and went live in 2015. On the other hand, Dogecoin was created as a light joke in 2013 by software engineers Billy Markus and Jackson Palmer.
As a meme currency, the usefulness of DOGEThe usefulness of Dogecoin It is already lacking compared to that of ethereum. However, the meme-based cryptocurrency has attracted a lot of attention and support due to its unique cultural value and light-hearted and fun theme.
Over the years, DOGE has seen significant growth, building a community of millions of investors and supporters and developing numerous innovative projects. Starting from a zero value, Dogecoin reached an all-time high of $0.74 in 2021. Furthermore, its market capitalization has grown to 25 billion dollars.
Dogecoin's rapid growth and emerging practical applications in the crypto industry could be the driving force behind Buterin's support. Although he founded ethereum, Buterin believes that DOGE surpasses eth in certain aspects. The founder of ethereum also previously revealed that he is a Dogecoin Holder.
Analyst Predicts Next DOGE Bullish Target Above $0.2
Cryptanalyst Jake Wujastyk hasx.com/jake__wujastyk/status/1851279080534262172?s=46″ rel=”nofollow” target=”_blank”> revealed a new bullish prediction for Dogecoin price on x (formerly twitter) on October 29. According to the analyst, DOGE is preparing for a big bullish rally to reach its next bullish target between $0.2145 and $0.2295.
Presenting a detailed Dogecoin price chart, Wujastyk illustrated the meme coin's price movements from 2021 to the present. Based on DOGE's past price action on its yearly chart, the analyst believes the meme coin could see a projected rise above $0.2 before the end of 2024 or towards the beginning of 2025.
An increase to $0.2295 would represent a 34.7% increase from its current price. At the time of writing, the price of Dogecoin is trading at $0.17, up 3.86% over the past 24 hours and up 24% over the past week, according to CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
