fbpx
  • Price Tracker
  • Guest Post
  • Advertising & Partnership
  • Press Release
  • Editorial Policy
Coin Culture
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Business
    • Policy & Regulation
    • Tech
    • People
  • Markets
    • Forecast
      • Ethereum Price Predictions
      • Bitcoin Price Predictions
  • 101 Guide
    • Blockchain Guide
    • Trading Guide
    • Bitcoin Guide
    • DeFi Guide
    • Ethereum Guide
  • Product Reviews
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Swyftx Review
      • Binance Australia Review
      • MEXC Review
      • BitMart Exchange Review
      • Bybit Australia Review
      • CoinSpot Mastercard Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx vs Binance
      • Coinspot vs Binance
      • Crypto.com vs. Binance
      • CoinSpot vs Kraken
      • Swyftx vs Coinbase
  • Contact
    • About Us
    • Submit Press Release
    • Submit Querry
    • Submit Guest Post
  • Crypto Wiki
No Result
View All Result
Coin Culture
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Business
    • Policy & Regulation
    • Tech
    • People
  • Markets
    • Forecast
      • Ethereum Price Predictions
      • Bitcoin Price Predictions
  • 101 Guide
    • Blockchain Guide
    • Trading Guide
    • Bitcoin Guide
    • DeFi Guide
    • Ethereum Guide
  • Product Reviews
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Swyftx Review
      • Binance Australia Review
      • MEXC Review
      • BitMart Exchange Review
      • Bybit Australia Review
      • CoinSpot Mastercard Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx vs Binance
      • Coinspot vs Binance
      • Crypto.com vs. Binance
      • CoinSpot vs Kraken
      • Swyftx vs Coinbase
  • Contact
    • About Us
    • Submit Press Release
    • Submit Querry
    • Submit Guest Post
  • Crypto Wiki
No Result
View All Result
Coin Culture Logo
No Result
View All Result

Home » Dogecoin core developer steps down from the project as being ‘overwhelmed’ with stress and conflict

Dogecoin core developer steps down from the project as being ‘overwhelmed’ with stress and conflict

Lucas N by Lucas N
July 1, 2022
in Currencies
Dogecoin on keyboard
Share on FacebookShare on Twitter

You might also like

SUI Price Hits All-Time High – But Valuation Remain Questioned

Solana could “Seriously Challenge” Ethereum as Institutions Favour Scalability, Says Sygnum

Ethereum 50% below its all-time high due to Interoperability Challenges and Whale Inactivity

Dogecoin core developer steps down from the project as being ‘overwhelmed’ with stress

Dogecoin developer Ross Nicoll is stepping down from the popular meme coin, citing stress and conflict of interest as reasons.

Dogecoin loses its core developer

Almost all of us know Dogecoin for being the likable meme cryptocurrency inofficially chaired by Elon Musk. But only the most hardcore Dogecoin enthusiasts will be aware of the people behind the project. One of them is Ross Nicoll, the former core developer of the Dogecoin Foundation.

Nicoll published his letter of resignation on February 16, saying that he was overwhelmed with stress and citing a conflict of interest between working on Dogecoin and working on his day job, which is shifting to the blockchain industry. Over the transition period of four to eight weeks, Nicoll said that he would remain as an advisor to the project, adding that his main concern was unknown third parties claiming to be the coin’s core developers. 

In his explanation of the overall situation of the Dogecoin Foundation, Nicoll quoted several trademarks being registered under Dogecoin as the main challenge in 2021. A key challenge of the Dogecoin community is to cooperate to avoid exposing the Foundation to legal risks. The extremely challenging environment the Foundation is operating in causes every step of the process to be more complex than the previous one, but Nicoll was bullish about the progress the Foundation is making. 

How this will affect Dogecoin

Since having its heyday in spring 2021, when Dogecoin was one of the top 10 cryptocurrencies per market capitalization, the popular meme coin has seen its value significantly diminish. DOGE is down more than 70% from its all-time high in May 2021 and currently trades around $0.17 AUD. The reasons for this price crash are manyfold.

First, DOGE was never going to maintain the astronomic price surge it experienced in the first half of 2021. Propelled by a flurry of Elon Musk tweets, its price exploded in value right when the “meme coin/stock” frenzy hit its absolute peak. After all, the value of DOGE is only speculative, so a cool-off period was assured.

Second, DOGE surged in price right when Bitcoin hit the first peak of its double-top chart pattern in 2021. Naturally, with Bitcoin at record levels, the tide lifted all remaining boats as well. With Dogecoin being the hot commodity of spring 2021, a correction in the price of BTC also meant a correction for DOGE. Unfortunately for DOGE, Bitcoin is now facing more headwinds on several fronts, meaning that investors are far less likely to invest in speculative meme coins.

Finally, the departure of a key developer like Nicoll and ongoing uncertainty about Dogecoin’s undefined utility further weigh on its short-term prospects. Even compared to a meme coin like Shiba Inu, Dogecoin looks old and out of date, hanging on to its Musk-boosted glory days of old. If the Dogecoin community and the Dogecoin Foundation want to avert DOGE slowly bleeding out, they will have to do a strategic 180 and start by hiring a new lead developer that can implement it. 

Tags: Dogecoin
Lucas N

Lucas N

Lucas N is Coin Culture's managing editor for people and market, covering opinon, interview and market analysis. He owns Near, Aurora and Chainlink

Recommended For You

SUI Price Hits All-Time High – But Valuation Remain Questioned

by John Hobbs
October 18, 2024
0
SUI Price Hits All-Time High – But Valuation Remain Questioned

SUI has recently closed the week at its all-time high (ATH) price of $2.30, outperforming top altcoins such as Polkadot (DOT) and ranking among the top 15 cryptocurrencies....

Read more

Solana could “Seriously Challenge” Ethereum as Institutions Favour Scalability, Says Sygnum

by John Hobbs
October 4, 2024
0
Solana could “Seriously Challenge” Ethereum as Institutions Favour Scalability, Says Sygnum

Swiss crypto bank Sygnum suggests that Solana could become a serious contender to Ethereum, particularly if financial institutions continue choosing it for real-world asset tokenization platforms and stablecoins. ...

Read more

Ethereum 50% below its all-time high due to Interoperability Challenges and Whale Inactivity

by John Hobbs
September 9, 2024
0
Ethereum 50% below its all-time high due to Interoperability Challenges and Whale Inactivity

Ethereum is currently grappling with significant market and technical challenges, which have contributed to its valuation being 50% below its all-time high of over $4,800. Analysts attribute this...

Read more

PayPal’s Stablecoin Reaches $1B Market Cap as Incentives Fuel Solana Activity

by John Hobbs
August 28, 2024
0
PayPal's Stablecoin Reaches $1B Market Cap as Incentives Fuel Solana Activity

PayPal's stablecoin, PYUSD, recently reached $1 billion in market cap, as reported by CoinMarketCap.  Issued with Paxos, PYUSD saw its supply more than double since June, despite the...

Read more

Concerns Rise Over Tron’s USDD After $732M Bitcoin Withdrawal From Reserve

by John Hobbs
August 24, 2024
0
Concerns Rise Over Tron's USDD After $732M Bitcoin Withdrawal From Reserve

The crypto community has shown concerns about the Tron-based stablecoin USDD after the Tron DAO withdrew $732 million worth of Bitcoin from its reserves. People fear that this...

Read more
Next Post
Man on high mountain looking at interest rate

Pantera Capital CEO Says Interest Rate Hike 'Great' for Crypto

Please login to join discussion

Most popular

  • Why Brands Should Adopt A ‘Hybrid DAO’ Model

    Why Brands Should Adopt A ‘Hybrid DAO’ Model

    184 shares
    Share 74 Tweet 46
  • Kucoin Review 2024: Features, Fees & More

    156 shares
    Share 62 Tweet 39
  • Coinbase vs Binance: A Side-By-Side Comparison 2023

    270 shares
    Share 108 Tweet 68
  • 20 Best Crypto Copy Trading Platforms: A Curated List 2024

    672 shares
    Share 269 Tweet 168
  • 11 Best Crypto Debit Cards In Australia: A Curated List 2024

    429 shares
    Share 172 Tweet 107

Recommended

Ethereum Foundation Reveals $788 Million in Crypto Holdings, Mostly in Ether, Amid Transparency Push

Ethereum Foundation Reveals $788 Million in Crypto Holdings, Mostly in Ether, Amid Transparency Push

November 9, 2024
Solana Surpasses Binance Coin (BNB) as Fourth-Largest Cryptocurrency

Solana Surpasses Binance Coin (BNB) as Fourth-Largest Cryptocurrency

November 8, 2024
Trump Declares Victory - What will the US Crypto be?

Trump Declares Victory – What will the US Crypto be?

November 6, 2024
Kraken Introduces Crypto Derivatives Suite for Australian Wholesale Clients

Kraken Introduces Crypto Derivatives Suite for Australian Wholesale Clients

November 5, 2024
coin culture logo

Your Australian news source for all things cryptocurrency. Coin Culture is an independent media outlet that aims to provide an Aussie take on crypto, digital assets, and investing.

Hot Topics

  • DeFi
  • NFT
  • Gaming

Top articles

CoinSpot Review
Swyftx Review
Best Crypto Exchanges Australia
CoinSpot vs Swyftx

BROWSE BY TAG

Altcoin News Bitcoin CoinSpot Cryptocurrencies Crypto Exchange Crypto Tax DeFi Dogecoin Dogecoin News ETF Ethereum Feature FED FTX Games hacks Layer2 Markets meme Metaverse Mining NFT Opinion People Policy and Regulation Polygon SEC Security Solana News Stablecoins Tech Top Crypto News Australia | CoinCulture Trading US web3 XRP News

RECENT POSTS

  • Ethereum Foundation Reveals $788 Million in Crypto Holdings, Mostly in Ether, Amid Transparency Push
  • Solana Surpasses Binance Coin (BNB) as Fourth-Largest Cryptocurrency
  • Trump Declares Victory – What will the US Crypto be?

© 2023 CoinCulture. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.
  • bitcoinBitcoin(BTC)$105,783.00-1.34%
    BITCOIN
    24H : -1.34%
    Volume : $36,897,942,255.00
    Marketcap : $2,102,119,503,934.00
  • ethereumEthereum(ETH)$2,648.780.830%
    ETHEREUM
    24H : 0.830%
    Volume : $27,172,999,967.00
    Marketcap : $319,786,992,711.00
  • tetherTether(USDT)$1.000-0.01%
    TETHER
    24H : -0.01%
    Volume : $62,568,029,176.00
    Marketcap : $153,028,530,223.00
  • rippleXRP(XRP)$2.261.12%
    XRP
    24H : 1.12%
    Volume : $2,132,052,421.00
    Marketcap : $132,726,841,541.00
  • binancecoinBNB(BNB)$674.39-1.44%
    BNB
    24H : -1.44%
    Volume : $879,198,465.00
    Marketcap : $98,388,540,387.00
  • solanaSolana(SOL)$166.70-1.79%
    SOLANA
    24H : -1.79%
    Volume : $3,758,158,226.00
    Marketcap : $86,774,537,708.00
  • usd-coinUSDC(USDC)$1.0000.00%
    USDC
    24H : 0.00%
    Volume : $10,664,933,898.00
    Marketcap : $61,132,581,507.00
  • dogecoinDogecoin(DOGE)$0.216-0.82%
    DOGECOIN
    24H : -0.82%
    Volume : $1,272,383,043.00
    Marketcap : $32,287,655,984.00
  • cardanoCardano(ADA)$0.727-1.11%
    CARDANO
    24H : -1.11%
    Volume : $638,746,717.00
    Marketcap : $26,224,525,000.00
  • tronTRON(TRX)$0.2750.320%
    TRON
    24H : 0.320%
    Volume : $636,619,619.00
    Marketcap : $26,135,343,456.00

Add New Playlist

No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Business
    • Policy & Regulation
    • Tech
    • People
  • Markets
    • Forecast
      • Ethereum Price Predictions
      • Bitcoin Price Predictions
  • 101 Guide
    • Blockchain Guide
    • Trading Guide
    • Bitcoin Guide
    • DeFi Guide
    • Ethereum Guide
  • Product Reviews
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Swyftx Review
      • Binance Australia Review
      • MEXC Review
      • BitMart Exchange Review
      • Bybit Australia Review
      • CoinSpot Mastercard Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx vs Binance
      • Coinspot vs Binance
      • Crypto.com vs. Binance
      • CoinSpot vs Kraken
      • Swyftx vs Coinbase
  • Contact
    • About Us
    • Submit Press Release
    • Submit Querry
    • Submit Guest Post
  • Crypto Wiki

© 2023 CoinCulture. All rights reserved.