Dogecoin (DOGE) co-creator believes Ethereum (ETH) bridge and NFTs can help DOGE

Thu 30 Sep 2021 ▪ 16h58 ▪ 3 min de lecture - par Katie Donaldson

Dogecoin co-founder Billy Markus has opined that Dogecoin is in dire need of an Ethereum bridge, as well as inclusion by non fungible token (NFT) marketplaces as a payment option in order to boost adoption of Elon Musk’s favorite cryptocurrency.

Possible wider DOGE adoption?

Billy Markus, the software engineer who co-created the coin in 2013 with Jackson Palmer, tweeted that Dogecoin will only improve when a bridge between DOGE and Ethereum is completed. Such a bridge will allow an easier conversion of DOGE to Ethereum-compatible tokens. This will extend Dogecoin’s accessibility to the Ethereum decentralised finance and non-fungible token market.

According to the developer, the adoption will also increase if NFT platforms like OpenSea support it (the Ethereum version) as one of the payment currencies. “NFTs purchasing is high demand with crypto. Allowing for DOGE purchases of NFTs greatly increases its utility,” he said. 

DOGE desperately needs such updates to its ecosystem since its price is expected to fall due to the current bearish trends. At the moment of writing DOGE continues to change hands at around $0.2. However, it is expected to break below its current support level and reach $0.13.

Dogecoin bears will face quite a lot of bull buying at $0.10, as Dogecoin is marked at a very interesting discount around those levels. So bears should be, and will be, happy to lock in their profits and hand over the keys to the bulls. 

Billy Markus has taken to Twitter to suggest that, in his view, an Ethereum bridge and inclusion by NFT marketplaces as a payment option will help Dogecoin to attract more users into the ecosystem.

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Katie Donaldson

I went full time crypto back in June 2018, and have never looked back. I want to help persuade as many people as possible to come and build the decentralised future! Let’s go!

DISCLAIMER

Les propos et opinions exprimés dans cet article n'engagent que leur auteur, et ne doivent pas être considérés comme des conseils en investissement. Effectuez vos propres recherches avant toute décision d'investissement.

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