[Dogecoin developer shares important Ordinals update]
The Dogecoin blockchain is evolving at a breakneck pace, as demonstrated by the latest update released by top ecosystem developer Alex (known as MyDogeCTO on X). According to Alex, the meme coin’s main non-custodial wallet, MyDogeWallet, will soon support Doginals and the DRC-20 token standard.
These innovations will build on the legacy of Bitcoin, which is currently booming with the influx of Ordinals and Inscriptions. Doginals As Ordinals on Dogecoin, developers and members of the DOGE ecosystem are on the path to joining the memecoin revolution.
According to an update shared by MyDogeCTO, user interface (UI) and testing of Doginals and DRC-20 are currently in progress. Expected to launch this weekend, these Ordinals will make their way into wallets used by most local Dogecoin holders.
Support for NFTs and Inscriptions represents another bold move to bring utility to the Dogecoin ecosystem. Despite being the most valuable meme coin in the industry, many have accused Dogecoin of not emerging with any smart contract functionality beyond its primary role as a payment coin.
Unlike Shiba Inu Coin (SHIB) with Shibarium and Floki with TokenFi, Dogecoin has not made significant progress in this regard recently. With the launch of the DRC-20 standard, its ecosystem of innovators can now express their creativity through new applications, which can also increase demand for Dogecoin.
The impact on prices will depend on retail investors, not primarily on the whales within their ecosystem. At the time of writing, Dogecoin is trading at $0.1629, down 1.29% in the past 24 hours. This appears to be a cooling off period after various price actions so far this week.
If MyDogeWallet integrates DRC-20 and Doginals as planned, expect a significant rebound in the long term.
