Dogecoin (DOGE) Team Reveals Major Adoption Milestone


Google News

The Dogecoin (DOGE) team has revealed a major adoption milestone for the meme coin. Using its official X account, Highlighting DOGE’s recent rise in utility. This latest milestone shows that Dogecoin has a real purpose.

The team tweeted that while most crypto projects are profit-driven, Dogecoin is different. The real purpose of this meme coin is to make it easier for people to trade in their daily lives. The team said that DOGE enthusiasts are actually using the coin.

Their comments are recent report From Bloomberg: Venezuela’s recent economic downturn has seen families turn to cryptocurrency, with many Venezuelans emigrating to countries like the United States.

These migrants have sent about $5 billion to their families in Venezuela as of 2023. Bloomberg reported that about 9% of these remittances, or about $461 million, were sent in digital currency. This is because The usefulness of cryptography In different parts of the world.

Dogecoin surges in everyday use cases

Notably, Dogecoin is one of the most popular currencies used by these migrants. Bloomberg shared an example of a migrant using the meme coin to send money back to his home country. It emerged that the migrant preferred to use Dogecoin due to its lower remittance fees compared to other options available in the cryptocurrency market.

Dogecoin is widely praised for its low transaction fees compared to other coins such as Bitcoin (BTC) and Ethereum (ETH). Tesla CEO Elon Musk has also praised the meme coin. In 2021, Musk said: Expressed He said DOGE is better than BTC and other coins in terms of transactions. He said it is the best cryptocurrency for buying and trading things.

Additionally, the Tesla CEO emphasized that Bitcoin is a much better store of value compared to Dogecoin. Overall, Dogecoin has emerged as one of the most used coins in daily life. Recent examples of Venezuelan immigrants using Dogecoin confirm the coin’s growing adoption.

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Mushumir Butt


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