The most recent update from leading ecosystem developer Alex, also known as MyDogeCTO on X, demonstrates how quickly the Dogecoin blockchain is changing. MyDogeWallet, the popular noncustodial wallet for meme coins, is said by Alex to be prepared to accommodate DRC-20 token standards as well as Doginals.
The legacy of Bitcoin, which is currently flourishing due to the flood of Ordinals and Inscriptions in general, will be expanded upon by these advances. Developers and supporters of the DOGE ecosystem are poised to become part of the meme coin revolution, with Doginals acting as the Ordinals residing on Dogecoin.
The Doginals’ and DRC-20’s User Interface (UI) and testing are still in progress, according to the update provided by MyDogeCTO. The bulk of native Dogecoin users are expected to utilise a wallet that will retain these Ordinals when they are released, which is scheduled for this weekend.
Another audacious step to provide value to the Dogecoin ecosystem is the support for NFTs and Inscriptions on the platform. Many have said that Dogecoin, the most valued meme coin in the market, lacks smart contract capabilities and just functions as a payment coin.
https://x.com/MyDogeCTO/status/1798604581703926050
In contrast to Floki and Shiba Inu (SHIB) with Shibarium and TokenFi, Floki’s tokenization company, Dogecoin has not demonstrated any discernible progress in this area in the last few months. Its ecosystem’s creative thinkers may now express themselves with innovative apps that have the potential to increase demand for Dogecoin thanks to the DRC-20 standard.
Retail investors will now have more of an influence on the price than the whales in its ecosystem. As of this writing, Dogecoin is trading at $0.1629, a decrease of 1.29% over the previous day. This seems to be a cooling-off phase after the erratic price activity seen this week.
Long-term growth is anticipated, particularly if the DRC-20 and Doginals integration into MyDogeWallet goes according to plan.
