Why is Dogecoin Frozen?
Why is Dogecoin (DOGE) becoming the top-ranked cryptocurrency in terms of marke
Why is Dogecoin (DOGE) becoming the top-ranked cryptocurrency in terms of market value? It is because of its high price potential.
According to bitcoinist, due to its high volatility (during bull markets), Dogecoin once soared to over $30,000. However, it was subsequently sold off by some investors, causing Dogecoin to quickly collapse and drop below $5, eventually reaching an all-time high.
This is not a new phenomenon. In the past week, DOGE’s price has risen from $0.021 to $0.036. At the time of writing, it has increased by over 50%.
Despite this, Dogecoin continues to grow at an astonishing pace — and there are still many other altcoins that have similarities with Dogecoin: BTC, ETH, and LTC. These altcoins have all experienced significant price increases through DOGE tokens. (Cryptopotato)
Why is Dogecoin Frozen?
According to Bitcoinist, Dogecoin has been under attack in the past few days. Official announcements have stated that all transactions for Dogecoin have been halted.
But why is this happening? There are two reasons: one is because no one can freeze the Dogecoins (DOGE) in users’ wallets, which means that no one can access the accounts or transfer funds to other addresses; and the second reason is that the lack of KYC validators, as well as factors such as fraud and manipulation, have made exchanges vulnerable to hackers. These malicious softwares can cause significant losses to users. Furthermore, some community members are concerned about this security risk, as people who have purchased Bitcoin could potentially lose their assets.
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