- The CEO of Ethereum earlier this year made his first donation to Dogecoin Community.
- Vitalik is also a board member of Dogecoin along with Jared Birchall.
Vitalik Buterin, the co-founder of Ethereum, recently donated 20 million Dogecoin (DOGE) to the Dogecoin community.
It is not the first time Vatalik has donated such a huge amount to Dogecoin Community. Earlier in May 2022, Vatalik Buterin donated 1 million dollars in ETH to Dogecoin Community.
As per some data sources, in August, Vatalik Buterin, Chief Executive Officer of Neuralink Jared Birchall, and Jared Birchall(Representative of Elon Musk) joined as board members of the Dogecoin Community.
The Merge of Ethereum is listed among the most popular event in the crypto community, and after a successful Ethereum Merge in which the working consensus of Ethereum Shifted from Proof-of-Work to Proof-Of Stake.
The motive behind Ethereum Merge was to make Ethereum more secure, scalable, and eco-friendly in validation or mining.
After the successful completion of Merge, Vatalik also suggested the Dogecoin community to shift its working mechanism from Proof-of-Work to Proof-Of-Stake.
Buterin predicts that when the technology “matures,” popular meme coin Dogecoin and privacy-focused Zcash will follow Ethereum’s lead and switch to a more environmentally friendly proof-of-stake consensus mechanism.
Elon Musk acquired Twitter on 27 October 2022, and a day after the acquisition, he fired the company’s Chief Executive Officer and Chief Financial Officer.
Dogecoin prices skyrocketed after musk acquired Twitter. However, many crypto analysts believe that Twitter’s owner also holds huge amounts of Dogecoin, which has yet to be proven.
The United States Securities and Exchange Commission (SEC) criticized Elon for rapidly fluctuating the price of Dogecoin by influencing it. Musk is the culprit behind Dogecoin’s rapid fluctuation, which has turned into a diehard sport.
It is assumed that in the upcoming, Musk is planning to add Dogecoin as one of the payments on his newly acquired twitter as he recently announced to charge $8 verification charges for a ‘blue badge.’
Musk owns Tesla, an electric automobile manufacturer, the first automobile company to start accepting payments in Dogecoin.
According to data from CoinMarketCap while writing this article, Dogecoin is trading at $0.0873 with a 24-hour trading volume of $1,140,205,438.
Dogecoin is among the top ten cryptocurrencies in the crypto market and is in the eighth position on the list, and this month it also touched the sixth position in the market.
Market watchdogs and analysts predicted that meme-coin prices would touch the price rank of $1, and on another side, some analysts called it a joke for cryptocurrencies.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2022/11/14/vitalik-buterins-20-million-doge-donation-left-community-surprised/