Dogecoin Upgraded As Value Stubbornly Sticks Near $0,05

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Just as the SEC is threatening Tesla CEO Elon Musk with an investigation for sending memes about Dogecoin (he sent another one last night), the small joke crypto itself proved that it was not to be messed with and received an upgrade.

Many have been warning in the past few weeks that Dogecoin could only fail as it is a dead project, but the developers have apparently returned to the land of the living and the project is now able to sync at faster speed.

• Trade Dogecoin on Binance (including a 20% lifetime discount)

Doge meme shield (legendary item) pic.twitter.com/CeomU9q84c

— Elon Musk (@elonmusk) March 1, 2021

Reddit’s board discussing Dogecoin said over the weekend that Doge’s update included:

Important performance improvements and is a strongly recommended update for everyone running a DOGE node.

What’s still up 1264% this past three months? #doge of course… pic.twitter.com/kvoGMS6j1M

— FutureMan (@crypto202WIN) February 28, 2021

Although most people speak of Bitcoin, Ethereum and Cardano in 2021 given the massive media coverage they receive, few seem to remember that Doge has in fact risen well over 1,000% since the year started.

In that same period, Bitcoin rose a rather measly 50% in comparison.

Pump and Dump

Doge is mired in controversy because of the pump and dump accusations it received in 2020. First, an influencer on TikTok called on everyone to buy it over the summer, but he then probably sold his tokens at the spike. Elon Musk is a longtime fan and whenever he mentioned it in the past year, people would buy only to see the price deflate a day or tow later.

2021 is proving different though, as Doge has been able to hold onto the $0,05 level for about a month now. The favorite hashtag of the coins fans Doge to a dollar seems a long way off, but if the development team can indeed continue to deliver improvements, it might just be possible after all.