Dogecoin’s DogeOS Proposes Native ZKP Integration for Enhanced Functionality
DogeOS has recently put forward an initiative aimed at incorporating native zero-knowledge proofs (ZKPs) into the Dogecoin network, facilitating advanced off-chain applications. This development is designed to enhance Dogecoin’s interoperability with ZK rollups, all while maintaining its quick transaction speeds. Currently, the price of DOGE is testing the support level at $0.263, with market analysts projecting potential price targets between $0.40 and $0.60. At present, Dogecoin (DOGE) is valued at approximately $0.20, experiencing a 24-hour volatility of 3.3%, alongside a market capitalization of $29.84 billion and a trading volume of $1.43 billion.
DogeOS Aims to Transform Dogecoin into a Functional Blockchain
Dogecoin is actively transitioning from being perceived merely as a meme coin to a blockchain with significant utility. The DogeOS team has submitted a proposal to introduce an opcode that will enable the network to natively verify zero-knowledge proofs (ZKPs). This plan aims to repurpose an underutilized segment of Dogecoin’s scripting system for the verification of Groth16 proofs. By doing so, Dogecoin could support both rollups and smart contracts without compromising its speed or user-friendliness. Unlike Ethereum, which relies on a more resource-intensive computational model, Dogecoin would focus on off-chain computations while still enabling on-chain proof verifications, ensuring compatibility for older nodes and preventing issues like forks or bloated virtual machines.
Excitement Grows Around DogeOS’s Upgrade Proposal
The DogeOS team has energetically announced a substantial upgrade proposal aimed at Dogecoin Core, highlighting the introduction of zero-knowledge proofs to the network. This advancement is expected to pave the way for decentralized finance (DeFi) applications, gaming, and much more, all while preserving the security that Dogecoin is known for. The community is buzzing with enthusiasm over what this means for the future of Dogecoin, with many expressing excitement about the innovation on the horizon.
Development of EVM-Compatible zkVM to Enhance Ecosystem
In addition to the ZKP proposal, DogeOS has unveiled plans to develop an Ethereum Virtual Machine (EVM)-compatible zkVM, which will allow Ethereum-based applications to operate directly on the Dogecoin infrastructure. This strategic move comes as institutional interest in DOGE is on the rise, reflecting a broader effort to mature the Dogecoin ecosystem.
DOGE Price Stability Amid Significant Monthly Gains
As of the latest updates, DOGE is trading around $0.2619, showing little change for the day amidst a stable overall crypto market. Remarkably, the cryptocurrency has witnessed a 70% increase over the past month, contributing over $16 billion to its market capitalization. Recently, Dogecoin broke free from a year-long falling wedge pattern, which is often viewed as a bullish signal. Analysts suggest that if the $0.263 support level holds, DOGE may target a price range of $0.40 to $0.60 in the coming weeks.
Technical Analysis Signals Potential Price Movements
On the four-hour chart, DOGE is currently trading near the midpoint of the Bollinger Bands, with the bands tightening, which may indicate an impending price movement. Should DOGE maintain its position above the $0.260–$0.263 support zone, a rebound toward the upper band near $0.282 could be on the horizon. The Relative Strength Index (RSI) has dipped from overbought territory, signaling that while the rally may be slowing down, it hasn’t reversed yet. However, a drop below the $0.260 mark could expose DOGE to a potential correction, targeting $0.245 before bulls make another attempt to regain momentum.
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