Dogecoin now becomes the second largest coin in terms of mining post-Ethereum merge.
As the Ethereum merge occurs on the 15th of September, it pave way for some changes in the crypto sphere which is the transition of Dogecoin from its 3rd position in terms of mining to the second following Bitcoin.
Long before now, Dogecoin has been occupying the position 3rd position with Bitcoin and Ethereum ahead of the meme while the Ethereum Classic (ETC) and Litecoin (LTC) after it.
With a market capitalization of $8.04B at the time of reporting – per data from CoinMarketCap – Dogecoin still comfortably places itself in the 10th position of largest cryptocurrencies, considering all assets, including PoS tokens.
The recent shift of Dogecoin to be the second largest PoW asset is an imminent upgrade for the Dogecoin community, considering its frivolous appearance and the sentiments around it.
According to a Dogecoin supporter, “Who would have thought that this would happen? Congrats, Dogefam,”
Recall, that Doge designer, Elon Musk, recently put up its premium collectable Cyberwhistle for sale, with Dogecoin being the only currency accepted for its purchase. Priced at 1000 DOGE – an approximate value of $60 against prevailing rates – the collectable sold out hours after Musk promoted it on Twitter.
Dogecoin Is Now Becoming Imminent
Dogecoin has been popular among investors and some significant personalities. For instance, the Tesla CEO, Elon Musk has been raising support since last year on the coin, even when the community and most crypto industry slammed him for the unnecessary promotion he gave to Dogecoin, he came to his Twitter Twitter to announce more support on the coin.