According to U.Today, developers within the Dogecoin (DOGE) ecosystem have announced a significant update regarding the launch and hosting of Ordinals inscription on the chain. Despite its origins as a meme coin, Dogecoin is striving to evolve into a more functional protocol. The introduction of Ordinals, referred to as Doginals, could play a pivotal role in this transformation.
Developers from MyDoge Wallet, a widely used native Dogecoin application, have revealed that they are in the final stages of testing the v1.0 release to support Doginals. This support could potentially drive mainstream adoption of the innovation. The MyDoge Wallet team shared this update on social media, indicating that the platform is nearing readiness for the new feature.
The concept of inscriptions, which first appeared on the Bitcoin blockchain in early 2023, has had a significant impact on transaction counts and miner fees, although its effect on price growth was minimal. The Dogecoin community hopes that Doginals will have a similar impact, enhancing the chain's functionality and setting it up for future success.
Despite the market drawdown, the Dogecoin community, known as the Doge Army, remains passionate and supportive. At the time of writing, Dogecoin has shown resilience, with a 2.96% increase in 24 hours, reaching a price of $0.1098, according to CoinMarketCap. With a market capitalization of $15.9 billion, Dogecoin maintains its ranking above Cardano (ADA).
The Dogecoin developers continue to work on safeguarding the community from scams and risks, which has helped build trust and sustain price stability within the ecosystem. This ongoing effort to innovate and protect the community underscores Dogecoin's potential for growth beyond its meme coin origins.