According to reports, the leading meme cryptocurrency is working on another core release to take its service a step further.
Github recently released shared notes detailing how the Dogecoin network is working on releasing the latest Dogecoin version, v.1.14.6. The most recent version (v.1.14.5) was released last November. The new update will include important security revamp and improvements to existing security systems.
However, details of the upcoming Dogecoin v.1.14.6 core release remain scanty as not much information was disclosed.
Dogecoin is a shared, community-created digital currency inspired by the Shiba Inu meme. It was created as an object of fun following the emergence of Bitcoin. It has so far surpassed the expectations of many.
What is the Dogecoin Core?
The meme-themed is powered by the Dogecoin core software, which incorporates the Scrypt hashing algorithm for the Proof-of-Work (PoW) of the Dogecoin network. This enables anyone to operate a node in the blockchain network.
Additionally, the Dogecoin core is adapted from the Bitcoin core and other digital currency software.
Price of Dogecoin Consolidating
The past couple of months has seen Dogecoin experience a downward trend after reaching its all-time high last year. The meme cryptocurrency caught the attention of investors last year when it outperformed most of the top cryptos during its peak price period.
However, Dogecoin failed to consistently maintain the price performance, resulting in a massive price crash and a market recovery.
Nonetheless, investors were not put off by the performance of the meme token, with investment coming in from various interested participants. Even the whales are not left out, as they continue to accumulate as many tokens as possible at a discount.
Despite the downward price spiral, the whales are ever-present as they continue to amass huge DOGE tokens, not minding the price decline.
WhaleStats’ latest data shows that the top holders of the meme token have increased portfolios. The WhaleStats reports show a 10.35% increase in the average token balance of the investors. The average growth value of the investors also rises by 13.98%.
The meme cryptocurrency is also among the greatest assets the Binance whales have in their holdings.
As per IntoTheBlock, the current profitability of the DOGE is up by 95%. The addition of more addresses will go a long way to improving the performance of the Dogecoin network because a high number of addresses will convince holders of the token to keep their assets instead of rushing to sell them.
CoinMarketCap reported that the trading volume of Dogecoin had been marginally up over the past 24 hours. At the time of writing, the largest meme coin is trading at $0.12 after capping at $0.121, the highest value in the intraday trading session.
Dogecoin is expected to continue consolidating its price in the $0.10 and $0.132 price levels. A move further above these levels will be the determining factor in assessing the direction of the price in the coming days.