Dogechain (DC), a recently introduced cryptocurrency, is posting big numbers in terms of gains since being added to the ever-growing family of the crypto space. Dogechain trading volume spikes to over $50 million in just two weeks DC price surges to $0.0045 before experiencing correction Dogechain blockchain looks to build up Dogecoin At press time, according to tracking from Coingecko, the layer 2 digital asset is trading at $0.001433. Over the past 24 hours, it has grown by 18.5%. Related Reading: Cosmos In A Downtrend Since Last 2 Months – Investors Shying Away From ATOM?   Source: Coingecko Its growth on weekly, biweekly and monthly basis are also off the charts, going up by 176.8% during the last seven days and 141.3% over the last two weeks. On its month-to-date figures, Dogechain is up by 79% as it now sits on a market capitalization of almost $43 million. Trading Volume Skyrockets For Dogechain Within two weeks, the new crypto’s trading volume saw a massive surge as it reached over $50 million. At the time of this writing, however, Dogechain’s volume dropped to $33.7 million. This catapulted the digital asset’s value to $0.0045. That was short-lived however as price correction trimmed the virtual currency’s gains. There are 20 market places where the altcoin can be traded with Gate.io and Kucoin accounting for almost 40% of all trades that involve the cryptocurrency. But while Dogechain is having a very good showing in terms of price pump, the EVM-compatible layer 2 blockchain token’s true purpose is to complement meme crypto Dogecoin. Although the asset carries the “doge” moniker, it is important to remember that it is not an extension of the Dogecoin project and is not built on DOGE network. Dogecoin: Unleashing Its Full Potential Increasing the utility of Dogecoin is the main goal of Dogechain. Holders of the famous dog-themed crypto can take advantage of the added utility that this blockchain give by wrapping their DOGE holdings with smart contracts. When this is done, Wrapped DOGE (wDOGE) will be given back to the owners. This new and improved token will then allow them to DeFi products as well as NFTs that are powered by the Dogecoin network. With the help of the Dogechain blackchain, DOGE looks to realize its goal of being at the center of Decentralized Finance (DeFi) ecosystem. Such boost is needed by the 10th ranked crypto in terms of market capitalization and recognized as the “OG” (“original gangster”) meme-based digital token, as it continues to struggle in initiating a bull momentum. At press time, it is trading at $0.595 and is forecasted by Coincodex to decline over the next five days to change hands at $0.0546. The next 30 days will be bearish for the cryptocurrency as well, as it is predicted to drop all the way to $0.0367. Related Reading: Solana (SOL) Could Recoup Losses In Last 7 Days – Here’s How Crypto total market cap at $891 billion on the daily chart | Featured image from Coincu News, Chart: TradingView.com Disclaimer: The analysis represents the author's personal views and should not be construed as investment advice.

After steady declines over two months, DC spikes over 300% since Friday.

Investors can produce passive revenue from inactive crypto tokens by farming in yield. In addition, the tokens are often delivered to its decentralized exchange...

1. OKX: Current Best Crypto Yield Farming Platform OKX is our best choice for the excellent Defi yield farming cryptocurrency platform. Despite being primarily recognized...

The long-awaited Rio Major is now just weeks away, and this weekend, APAC’s two representatives for the pinnacle CS:GO tournament will be determined at...

The biggest news in the cryptosphere for Oct.7 includes Binance fixing the BSC bridge exploit after 2 million BNB were stolen, Bitcoin’s sinking following...

The biggest news in the cryptosphere for Oct.6 includes the arrest and release of Do Kwon’s aide, the EU’s crypto sanctions on Russia, and...

The biggest news in the cryptosphere for Sept. 30 includes a court ruling in favor of Ripple against the SEC for...

The biggest news in the cryptosphere for Sept. 28 includes Charles Hoskinson’s expectations that VCs would invest in Cardano in two...

The biggest news in the cryptosphere for Sept. 26 includes Interpol’s red warrant requesting law enforcement worldwide to locate and arrest...

The biggest news in the cryptoverse for Sept. 2 includes CZ saying that Binance is not incorporated in China, Cardano’s Vasil upgrade scheduled for...

Three months prior, there were 441,546 wrapped or engineered bitcoins on the Ethereum and Binance Smart Chain worth $17.45 billion utilizing trade rates on...