Dogecoin Foundation Launches Development Fund, DOGE Price Jumps Over 5% On The Day

Key Points:

• The Dogecoin Foundation made an official announcement on December 31 about the establishment of a new community Dogecoin Core development fund on Saturday.
• The foundation will see that 5 million DOGE are given to Dogecoin Core.
• The growth of the Core will have a significant positive impact on the Dogecoin ecosystem. To maintain transparency, the team will blog about all expenses and developments.

In order to boost Dogecoin development activity and benefit the whole Dogecoin ecosystem, the Dogecoin Foundation has established a new community Dogecoin Core development fund.

On Saturday, the Dogecoin Foundation released some great news for the Dogecoin community. The foundation announced the creation of a new community Dogecoin Core development fund in an official statement on December 31. 5,000,000 DOGE was first transferred to the development fund by the Dogecoin Foundation.

The DOGE price rose over 2% in just one hour as a result of the enthusiastic response from the Dogecoin community.

At the time of writing, DOGE is trading at $0.0707. Although the increase is more than 5.4% in the past 24 hours, the value of DOGE has also decreased by more than 8.4% in the past week.

The foundation will make sure that Dogecoin Core receives 5,000,000 DOGE. The Dogecoin ecosystem will benefit greatly from the Core’s development. The team will write blog articles on all expenses and developments to preserve transparency.

Dogecoin Foundation members and engineers of the Dogecoin Core will run the new multi-signature wallet. The Dogecoin Core developers will promptly get the DOGE that is stored in the wallet. Three of the five custodians must sign this document.

According to BitInfoCharts, the wallet address presently has 4,999,999.90 DOGE tokens.

Existing core developers and signatory board members of the Dogecoin Foundation oversee the development.

In addition, Marshall Hayner has been named to the board of directors by the Dogecoin Foundation in recognition of his development of Dogecoin.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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