Some analysts say that the 2 new updates are critical even though the price of Dogecoin (DOGE) has dropped more than 90% from the price of ATH.
Dogecoin is waiting for these two updates
Dogecoin (DOGE) continued its network development despite the crypto winter of 2022. Meanwhile, volume giants like Uniswap and Polkadot slid out of the top 10. Despite a 90 percent depreciation, DOGE is still trading in 10th place. Mishboar, a Dogecoin-focused Twitter account, recently shared an update on a fundamental development in the Dogecoin ecosystem:
The Dogecoin development team is currently working on two major releases – core updates 1.14.7 and 1.21. According to Patrick Lodder, a Dogecoin core developer, these two updates will “lay the foundation for the future of Dogecoin.”
In-depth update on the situation with #Dogecoin Core development by Patrick Lodder. Important read.
1.14.7 should release this year, including also new features; 1.21, on which Doge’s future might be built, could come out in March 2023.
Do read, though.https://t.co/PbsdKyJYBT
— Mishaboar (@mishaboar) October 10, 2022
Lodder said that the 1.14.7 update will happen before the 1.21 update. Also, the 1.14.7 update comes with big pre-coded features. But it was supposed to come with the 1.21 update. As a result, the 1.21 update cannot come before the 1.14.7 update. Additionally, Dogecoin core developer Pattrick Lodder calls the 1.21 update “a foundation for the future.
Road map
According to Lodder, the recommended timeline for the release of the 1.14.7 update is by the end of the year. It will share a release strategy soon after adding a few more features and addressing some fixes. The Dogecoin core developer plans to make it a major release. Lodder also stated that the recommended version of the 1.21 update will be in March 2023.
Elon Musk and Dogecoin
The richest person in the world, Elon Musk, has become an ardent supporter of the meme coin. Its broad support over the years is why DOGE still ranks among the top ten cryptocurrencies by market cap.
Interestingly, Musk also believes that DOGE is more suitable for payments than Bitcoin. Earlier this year, Elon Musk also cheered for Dogecoin core upgrade 1.14.6. This July update came with important security fixes along with changes to the current fee structure. After this update, the recommended dust limit has been reduced from 1 DOGE to 0.01 DOGE.
Although DOGE remains among the top ten cryptocurrencies, it has lost more than 90 percent of its price since $0.74 in May 2021. The news that Musk bought Twitter this month brought a short-term rally in DOGE price. Dogecoin enthusiasts expect Elon Musk to integrate DOGE payments into the Twitter platform after the purchase. However, the excitement subsided once again.
But beyond Musk’s support, some analysts question the real usefulness of DOGE. These analysts believe that Dogecoin will not survive for long on the two cryptocurrencies list.
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