The Dogecoin Foundation recently received a whopping donation of 1 million DOGE coins from Dogecoin wallet developer, MyDoge.
On their official Twitter handle, the Dogecoin Foundation didn’t hesitate to announce this generous gesture worth about $140,000.
“Wow! Speechless! Thank you @MyDogeOfficial for this incredibly generous 1,000,000 Dogecoin tip! It’s been amazing to see the community re-energized this past year and projects like yours spring up. We love everything you’ve been doing!,” Dogecoin Foundation said.
MyDoge declared that the donation was made as part of the effort to make DOGE the “currency of the people”, noting that this can only be achieved by implementing significant upgrades.
“We hope other shibes join us in helping support their mission to make $doge the people’s currency and Do Only Good Everyday. #MyDogeTip1M,” MyDoge noted in its announcement.
Dogecoin As The People’s Currency
Lately, Dogecoin has turned a lot of doubters into believers following its widespread adoption across various parts of the world.
The number one dog-themed memecoin, which started as an internet joke back in 2013, has experienced steady growth and adoption in payment and as an investment means.
The coin also has the backing of popular figures and influencers, including world billionaire Elon Musk, and Mark Cuban, the currency owner of NBA team Dallas Mavericks.
Although most people envisage the eventual dominance of Dogecoin, Robinhood’s co-founder, Vladimir Tenev, believes that the project has a few issues to address to make this dream a reality.
Tenev urged that the Dogecoin developers improve the transaction block size to up to 10 GB so DOGE can rival the highest payment network, Visa.
Further added that the coin’s developers should develop a hard and fast total supply for the cryptocurrency to spice up the token’s value.
Meanwhile, the former CEO of Twitter, Jack Dorsey, doesn’t agree with Tenev’s idea, as it resulted in an exchange of words between them.