DogeChain wallet announces shutdown, get your Dogecoin out before June 1

2024-05-03 15:28:07 Eastern Standard Time

DogeChain Wallet has announced plans to cease operations on June 1, 2024. This website has been serving users for more than 10 years and started operation in 2013. The platform is prompting users to withdraw Dogecoin (DOGE) tokens from the platform. other wallets.

Dogechain.info advises users to protect their private keys before the shutdown deadline.

DogeChain service is down, users are asked to withdraw tokens from their wallets

Wallet provider service DogeChain announced its decision to discontinue its wallet service in an email sent to all registered users. A notice on the project’s website asks users to delete their DOGE tokens and move them to other wallet services before Dogechain ceases operations on June 1st.


Notice of DogeChain Wallet Closure

Wallet services are key to the Meme Coin ecosystem and have powered the storage and transfer of DOGE for over a decade. The service has not yet disclosed the reason for the closure.

Dogecoin advocate @mishaboar behind the handle X advised market participants to move their DOGE tokens externally.

http://dogechain.info

Analysts advised users to keep a copy of their wallet’s private key in case the address is used elsewhere. A copy of the private key will allow traders to recover funds they may have accidentally sent or received with this wallet in the future.

Mishaboar’s tweet about X

DOGE holders used the wallet to access NFTs, blockchain-based games, and decentralized applications (dApps) across the ecosystem. The user will need to relinquish control to a wallet address when moving her DOGE holdings, as the interface will no longer be accessible after the shutdown.

Dogecoin achieved a significant milestone in March 2024 by exceeding 2 million transactions in a single day. Since then, the number of daily transactions has been declining, but as of Friday, May 3, it is starting to recover.


Dogecoin transactions seen on BitInfoCharts

The recent recovery in DOGE daily trading is likely an effect of meme season and the rotation of capital into more speculative assets like Dogecoin. DOGE price was $0.1397 on Friday, with the Shiba Inu-themed meme coin adding nearly 6% to its value on the day.

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DogeChain wallet announces closure, issue Dogecoin by June 1st

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