The market capitalization of Dogecoin is now $ 1 billion, but its Creator disappointed

The market capitalization of Dogecoin is now $ 1 billion, but its Creator disappointed

Almost forgotten since its peak in 2014, joke, Dogecoin in the last month increased in price by more than 400 percent, setting a new record at the level of – $ 0.01.

This price growth has meant that the market capitalization of Dogecoin exceeds $ 1 billion. And trading volume for the last 24 hours amounted to 101 million dollars. However, the project’s Creator is concerned about this situation. Jackson Palmer, the founder of the cryptocurrency who left the team in 2015, commented on the event:

The fact that most conversations in the media focuses on the investment potential and cause for concern because it diverts attention from the underlying technologies and goals that were at the heart of this movement.

He continued:

I really believe in the team Dogecoin Core, they are quite capable of supporting crypto-currencies in a stable and safe level. But I also think that this fact says a lot about the state of the cryptocurrency space as a whole that cryptocurrency is a joke, with the symbol of a dog that has not released any updates for 2 years has a market capitalization of $ 1 billion.

The developers of Dogecoin was also surprised by this fact, however, they showed much more enthusiasm. Developer Patrick Lodder said:

For me this proves that we don’t need super features or a ton of innovation, but even with the conservative team to achieve success.

Max Keller, another developer, agreed with Patrick and so commented on this event:

It’s a little scary when you’re working on software that manages the network is worth a billion dollars. It’s a big responsibility. And also one of the main reasons why we are so reluctant to implement innovative technology in our main client. However, I am proud of what we have achieved and glad to be a part of such a great community.

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