Dogecoin Hashrate Hits 7-Month High Amid Rising Interest and Upcoming Core Update

Dogecoin Hashrate Reaches 7-Month High

The Dogecoin blockchain has seen a significant surge in mining activity, with its hashrate reaching a seven-month high of 815 TeraHashes per second (TH/s) on October 18. This milestone reflects increased interest in the meme coin, despite being 19.4% below its April peak of 1.34 PetaHashes per second (PH/s). The rise in hashrate indicates more miners contributing processing power to secure the network and earn block rewards.

Elon Musk's Influence and Twitter Integration Speculation

Elon Musk, a long-time supporter of Dogecoin, is expected to play a key role in driving further interest in the coin. His impending acquisition of Twitter has sparked speculation about integrating DOGE into Twitter Blue, the platform's premium service. This potential integration could significantly boost the coin's adoption and utility.

Increased Trading Volume on BNB Chain

Dogecoin has also seen a notable increase in trading volume on the BNB Chain (BNB Chain). According to WhaleStates, the top 100 whales on the network hold approximately $5.424 million worth of DOGE, highlighting the coin's growing presence on the BNB Chain.

Upcoming Dogecoin Core Updates

The Dogecoin community is eagerly awaiting the release of two major core updates: 1.14.7 and 1.21. These updates are expected to enhance the blockchain's functionality and lay the groundwork for future developments. Dogecoin core developer Pattrick Lodder has emphasized that update 1.21 will serve as a "foundation for the future" of the meme coin, with the 1.14.7 update scheduled for release before the end of the year.

These developments suggest a promising outlook for Dogecoin, with increased mining activity, growing adoption on BNB Chain, and upcoming improvements to its core technology.