“Dogechain” On Ethereum Network has nothing to do with Dogecoin.
A few hours ago, a post appeared on Reddit alleging that the Dogecoin community has launched a “Dogechain” that is supposed to operate with DOGE being used as gas. However, it now appears that this may not be entirely true.
According to the post, the chain currently supports various top meme coins, including DogeEatDoge, DogeBurn, and DogeTools. The chain is alleged to have been launched on the Ethereum blockchain. Also, DOGE fans on Reddit didn’t seem to be the least convinced by the post, with a lot of them saying that it’s false. It’s a good thing that the Dogecoin community is smart.
But top influencers, Like Lark Davis are also posting about dogechain which is a concern for the community.
Both top dog coins have major catalysts right now! #dogecoin #shibainu $shib $doge
Dogecoin – the launch of #dogechain which requires wrapped DOGE for trading
Shiba Inu – the coming launch of their layer two Shibarium
Seems like every dog does have its day!
— Lark Davis (@TheCryptoLark) August 16, 2022
What The Chain Site Says
Interestingly, a website that’s alleged to belong to Dogechain launchers doesn’t seem to inspire a lot of confidence in what it claims to offer the Dogecoin community. It claims to offer cheap and fast transactions, DeFi functionality, and NFT support – besides using Doge for gas payments on the said chain.
Dogecoin has been one of the most popular dog-themed meme coins in the crypto market. The coin has attracted a huge fanbase, even winning support among some top bigwigs like Elon Musk. That said, it’s almost natural that such a popular coin would attract the attention of unscrupulous bad actors that may attempt to capitalize on its popularity to defraud people.
DOGE Has Zero Connection With Dogechain
Following the Reddit post, various crypto entities, major Dogecoin fans, and influential figures came out to provide clarification on the matter. It turns out, “Dogecoin has nothing to do with Dogechain.” According to a recent Twitter post by Doge Whisperer, an entity furnishing the Doge community with news and facts about the ecosystem, no one from the doge community is affiliated with Dogechain.
“Dogechain has nothing to do with Dogecoin. It’s a bridge that currently leads to the unknown with many risks & red flags. I’ve been here for a while & no one in the Dogecoin community (that I know of) is affiliated. That’s my current stance, however I’d love to be wrong. Careful.