DC is the native token of the Dogechain which is ranked 2639 as of today (3 Nov) on the coinmarketcap with a market cap of ₹831,155,511 and a price of ₹0.1706. DC is the staking and governance token of Dogechain.
Whereas Dogechain is a proof of stake blockchain that runs on the Polygon network. Hence, it is called Layer 2 for dogecoin which means it boosts DogE in order to give the Doge community access to crypto apps like NFTs, gaming, and DeFi. It proposes that customers can use Dogecoin to pay for network gas fees.
Its capacity to communicate with the Doge network and transfer Dogecoin to be used for these activities makes it special. But it can’t be really called layer 2 for dogecoin because it is not based on the meme coin network but on the Polygon Edge.
Unfortunately, these applications like NFTs, gaming, and Defi can’t be supported by Dogecoin itself (or any other dApps), that’s why the dogecoin community created this blockchain.
According to the Dogechain website, Dogechain allows Dogecoin holders to do more than just wait for the cryptocurrency to rise in value. However, users were originally supposed to stake wDOGE (another native token of Dogechain) in order to gain DC, but this notion was dropped when it was discovered that doing so would stifle natural chain activity and only benefit the largest holders.
Factors that helped DC to receive such popularity
High quantity
With a maximum supply of 200 Billion, it was simple for individuals to purchase it because there was so much of it. So more and more people ended up buying it as it was easy to get.
Low price
Because of its high quantity, and the demand being able to be easily fulfilled the price is really low. At the price of a Bitcoin or any other big cryptocurrency, you can buy millions of DC. At the moment the price of DC is ₹0.1706.
Adding good features to DOGE
It gives the Dogecoin community access to crypto apps like NFTs, gaming, and DeFi because Dogecoin itself can’t do it due to various limitations. Doge is a famous crypto because of the support from celebrities and DC helps in making it, even more, to get the best features and value.
What can risk the growth of Dogechain?
Changing Trends
Every year, a large number of cryptocurrencies are introduced, and buyers choose to buy the ones that have greater features or are more popular in the market. As a result, there is a chance that most cryptocurrencies may lose value because trends change, and cryptocurrencies that are hot today may become useless tomorrow.
Easy availability leads to limited growth
Demand is the key factor in cryptocurrency. If supply is excessive, the demand will be met quickly, reducing the probability of high prices. The maximum in this instance of DC is 200 Billion, which is rather high and can be a topic of discussion.
How can you buy DC on Suncrypto in India?
It can be purchased in a variety of ways or you can get it as payment for goods and services. The most commonly used and safe method is to get it through a reliable exchange like Suncrypto Exchange.
Follow these steps to buy your DC (Dogecoin) on the Suncrypto
- Download the Suncrypto application from the Play Store or the App store
- Complete the KYC process by filling out the requirements
- Deposit the account to buy cryptos on the platform
- Search the DC coin on the application
- Select the quantity and press buy
- And you are done with the buying process
Dogechain is a cheap token and has a fair reputation in the crypto market. So it can be an investment to start with low prices. Even though the investment is easy, a person should do their research before investing in the market.
For more crypto-related information and news you can check out the Suncrypto Academy.
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. All content provided is for informational purposes only, and shall not be relied upon as financial/investment advice. Opinions shared, if any, are only shared for information and education purposes. Although the best efforts have been made to ensure all information is accurate and up to date. Occasionally unintended errors or misprints may occur. We recommend you to please do your own research or consult an expert before making any investment decision. You may write to us at [email protected].
