is a meme coin gaining prominence on social media thanks to its unique approach to reinvigorating Dogecoin. Adopting a utility-centric route, the meme coin leverages the Ethereum Layer 2 solution and aims to create an L2 for the Dogecoin network as well. This plan aims to make Dogecoin more appealing for those looking to get more out of DOGE.
What will these elements do for Dogecoin? Can they help DOGE² become the next 100x meme coin? Let us find out in this comprehensive review.
Charging DOGE with Layer 2 Solution
While there haven’t been many factors to push the DOGE value up other than broader market dynamics, the meme coin is now closer to reclaiming its all-time high than ever before. Be it Mark Cuban’s ownership of the token or Elon Musk’s enthusiasm, the token has not always been focused on utility.
However, the world is changing, and social perks and payment options can only take the project so far. Dogecoin, with its meme-based nature and large community of investors (some of them being institutional investors like Tyr Capital and Optimista), has always lacked utility. It is a shame because the token’s nature and social attributes could allow it to become so much more.
That’s what Doge2 is trying to do – make it more than it is today. Designed as a Layer 2 solution on the Ethereum blockchain, DOGE² aims to reduce the transactional burden on the original Dogecoin network. With another layer added to share the load, DOGE² envisions that the OG DOGE network could become faster and charge lower transaction fees.
This could enhance the meme coin’s flexibility, allowing more innovations to happen. “Think of the games that could be created on the network,” Doge2 devs say. “The possibilities are nearly endless.”
The way this new meme coin project aims to accomplish this is straightforward. It will start by launching DOGE² as a Layer 2 solution on Ethereum, leveraging rollup and zk-rollup to bundle transactions to achieve transactional efficiency. Then, Doge2 plans to move to the Dogecoin network, adding a Layer 2 and making it more efficient.
The developers say that this approach will provide the original Dogecoin network with multiple benefits:
- Faster Transactions – With multiple transactions being bundled into one, the network’s transaction processing speed will increase.
- Lower Transaction Fees – The increased efficiency of the original Dogecoin network will reduce transaction costs.
- Interoperability – With DOGE² bridged from Ethereum to the Dogecoin network, the network will become interoperable and more flexible.
Making the Dogecoin Experience More Seamless – What Does it Mean for the DOGE² Price?
Through the combined benefits of interoperability, faster transactions, and lower transaction speeds, Doge2 aims to give the meme coin community two more benefits.
Doge2 will enhance Dogecoin, giving the community access to more tools to interact with the network. This could open the floodgates of innovation, adding more value to Dogecoin.
Furthermore, with interoperability achieved, users won’t have issues moving DOGE² from one network to the next. With no delays, more use cases could emerge, pushing Dogecoin toward a utility-centric direction.
However, one question still remains: What would all this mean for the DOGE² price?
DOGE² Price Forecast – Long and Short Term
With Doge2 directly responsible for Dogecoin network’s evolution, there could come a time when people see the new token in the same light as DOGE. This could rally the community to push the $DOGE² price upward in the long term. We say long term because, unlike the original Dogecoin, Doge2 is not portrayed as a meme coin. The whitepaper contains no jokes, nor does it focus on standard social perks. Utility is the focus here, and the community may see it that way.
But that’s not to say the $DOGE² price won’t grow in the short term either. Currently available on presale, there are several benefits the token can leverage to increase in value in the future.
First, it is available at a discount, which could bring more people to invest since its price action – at least for now – is not dependent on market volatility.
Second, Doge2 is very open about engaging with the community in a significant manner. For instance, it has recently called for KOLs (key opinion leaders) to analyze and talk more about this project. This could fuel more interest in the token during the presale.
Finally, upon listing on a decentralized exchange, the token’s value could increase significantly. As the token achieves a higher market capitalization, centralized exchanges may also take notice, paving the way for more price surges in the future.
However, that initial parabolic price action would likely end quickly, pushing the DOGE² price down somewhat. At that point, it will only have its utility to rely on for long-term value growth.
Overall, our optimistic view is that upon launch, the DOGE² price could reach $0.08 or even $0.8. This would mark a 10x or 100x increase based on the current price in a bullish scenario. Beyond that, however, we would need to take a closer look at how well DOGE² has maintained its utility focus to forecast its value.
DOGE² Raises Over $450k – Price Increase Coming Soon
Since its launch, the has raised over $450k. The countdown is ticking, and the token price is set to increase soon. Therefore, those interested should visit the official website – dogesquared.com – to get started.
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