The Dogecoin blockchain is evolving at a very rapid pace, and this is shown in the latest update from the ecosystem’s lead developer Alex, known on X as MyDogeCTO. According For Alex, the meme coin’s dominant non-custodial wallet, MyDogeWallet, is set to support Doginals and DRC-20 Token Standards.
The Dogecoin blockchain is evolving at a very rapid pace, and this is shown in the latest update from the ecosystem’s lead developer Alex, known on X as MyDogeCTO. According For Alex, the meme coin’s dominant non-custodial wallet, MyDogeWallet, is set to support Doginals and DRC-20 Token Standards.
These innovations will build on the legacy of Bitcoin, which is now thriving thanks to the influx of Ordinals and Inscriptions in general. With Doginals as Ordinals resident in Dogecoin, developers and members of the DOGE ecosystem are on their way to joining the meme coin revolution.
Godfrey BenjaminAccording to the update shared by MyDogeCTO, the user interface (UI) and testing of Doginals and DRC-20 are currently underway. The proposed launch schedule is this weekend, putting these Ordinals into a wallet used by most native Dogecoin holders.
Support for NFTs and Dogecoin signups marks another bold move to bring utility to the Dogecoin ecosystem. Despite being the most valuable meme coin in the industry, many have accused Dogecoin of not offering smart contract capabilities beyond its primary function as a payment currency.
Unlike Shiba Inu (SHIB) with Shibarioand Floki with his tokenization team TokenFi, Dogecoin has not made any visible progress in this regard in recent times. With the DRC-20 standard, innovators in its ecosystem can now express their creativity with new applications that can also present avenues to drive demand for Dogecoin.
Alex DovbnyaThe impact on the price will now depend on retail investors and not mainly on the whales within their ecosystem. At the time of writing, Dogecoin is changing hands for $0.1629, down 1.29% in the last 24 hours. This looks like a cooling off period following the eclectic price action seen so far this week.
A definite rebound is expected in the long term, especially if the MyDogeWallet integration of DRC-20 and Doginals progresses as planned.
