Ethereum Founder Says Dogecoin Deserves To Be Number 2 Crypto After Bitcoin

bitcoinistPublished on 2024-10-31Last updated on 2024-10-31

Abstract

Ethereum founder Vitalik Buterin has just given up the number 2 top crypto spot to Dogecoin, the world’s first and...

Ethereum founder Vitalik Buterin has just given up the number 2 top crypto spot to Dogecoin, the world’s first and largest meme-based cryptocurrency. Buterin has stated that Dogecoin deserves to be ranked right after Bitcoin (BTC), underscoring the meme coin’s significance in the crypto space and unique cultural impact. 

Buterin Ranks Dogecoin As Top 2 Cryptocurrency

Teslaran, a crypto community member on X (formerly Twitter), recently released a video featuring Buterin in an exclusive interview. During the interview, the Ethereum founder surprisingly endorsed Dogecoin, declaring that it deserves to be ranked second after Bitcoin as the most prominent cryptocurrency.

Related Reading: Shiba Inu Price To $0.000081 Target: Analyst Forecasts The Catalyst Behind It

This unexpected endorsement captured the attention of the crypto market, particularly because Ethereum has consistently held its position as the second-largest cryptocurrency after Bitcoin. As the first major cryptocurrency launched after Bitcoin, Ethereum is often regarded as the world’s leading altcoin with the second largest market capitalization. 

Ethereum was founded by Buterin in 2013 and went live in 2015. On the other hand, Dogecoin was created as a light joke in 2013 by software Engineers Billy Markus and Jackson Palmer.  

As a meme coin, DOGE’s utilityDogecoin’s utility is already lacking compared to Ethereum’s. However, the meme-based cryptocurrency has garnered significant attention and support due to its unique cultural value and lighthearted, fun theme.

Evolving over the years, DOGE has experienced significant growth, building a community of millions of investors and supporters and developing numerous innovative projects. Starting from zero value, Dogecoin reached an all-time high of $0.74 in 2021. Moreover, its market capitalization has grown to $25 billion. 

Dogecoin’s rapid growth and emerging practical applications in the crypto industry could be the driving force behind Buterin’s endorsement. Although he founded Ethereum, Buterin considers DOGE surpassing ETH in certain aspects. The Ethereum founder has also previously revealed that he is a Dogecoin holder. 

Analyst Predicts DOGE’s Next Upside Target Above $0.2

Crypto analyst Jake Wujastyk has revealed a new bullish prediction for the Dogecoin price on X (formerly Twitter) on October 29. According to the analyst, DOGE is gearing up for a major bull rally to hit its next upside target between $0.2145 and $0.2295.  

Related Reading: Here’s What To Expect From The Bitcoin Price In November After Breaking Above $70,000

Presenting a detailed chart of the Dogecoin price, Wujastyk illustrated the meme coin’s price movements from 2021 to the present. Based on DOGE’s past price action in its yearly chart, the analyst believes that the meme coin could see a projected surge above $0.2 before the end of 2024 or towards the beginning of 2025.  

A surge to $0.2295 would represent a 34.7% increase from its current price. As of writing, the price of Dogecoin is trading at $0.17, marking a 3.86% increase in the last 24 hours and a 24% rise over the past week, according to CoinMarketCap. 

Dogecoin price chart from Tradingview.com (Bitcoin Ethereum founder)
DOGE price faces sell pressure | Source: DOGEUSDT on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com
Scott Matherson

Scott Matherson

Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

Related Posts

Shiba Inu SHIB burn

Shiba Inu Burns Rocket 436% As Whale Volumes Explode, Will SHIB Price Cross $0.00002?

7 hours ago
Dogecoin

Analyst Says Dogecoin Is The Most Obvious Play Of This Cycle, Here’s Why

9 hours ago
Picture of Dogecoin and Shiba Inu

Dogecoin Price Rockets 28% To Cross $0.17, Shiba Inu Surpasses Avalanche, Is Meme Coin Season Back?

10 hours ago
Dogecoin

Dogecoin Achieves Crucial Breakout, Expert Forecast A Potential Rise To $0.2

12 hours ago
Dogecoin Shiba Inu Cardano

Shiba Inu And Dogecoin Price Notch Over 10% Gains In 24 Hours, What’s Driving It?

1 day ago
Bitcoin price Small

Here’s What To Expect From The Bitcoin Price In November After Breaking Above $70,000

2 days ago

Related Reads

Agents Capital Markets: How Will Autonomous Agents Get Funded?

"Agents Capital Markets: How Autonomous Agents Will Raise Capital" Within a decade, specialized capital markets will emerge for AI Agents—software entities with legal personhood that perform work, earn revenue, and need capital. Unlike today's AI companies (like Sierra or Harvey) backed by traditional VC, these future *Agent companies* will be autonomous, legally-recognized entities (e.g., Wyoming memberless LLCs) that directly own assets, sign contracts, and incur liabilities. The driving forces are fourfold: 1) **Overwhelming economics** (Agent companies can deliver services at 85-90% lower cost than human firms); 2) **Proven demand** (current Agent operators already generate billions in revenue); 3) **Existing legal frameworks** enabling algorithmically-managed companies; and 4) **Massive, yield-seeking capital pools** (e.g., private credit) looking for new, uncorrelated assets. Agent capital markets won't rely on one model but a multi-layered "stack" matching different growth stages: 1) VC equity for early human-led builders; 2) Programmatic working capital advances (like Stripe Capital); 3) Revenue-based financing (RBF); 4) Slate financing (pooled funds for many Agents, similar to Hollywood); and 5) Tokenization as a secondary settlement layer, not a primary funding source. The ultimate shift is from funding constrained by human decision-makers to capital flowing algorithmically based on an Agent's auditable performance, contract book, and cash flows. This transition will be enabled by standardized infrastructure—rating methodologies, contracts, indices—turning Agents from software experiments into a foundational, financeable sector of the economy. The constraints are loosening; the opportunity is here.

链捕手3m ago

Agents Capital Markets: How Will Autonomous Agents Get Funded?

链捕手3m ago

English Region Top 100 AI Influence List

This article presents a "Top 100 AI Influencers" list for the English-speaking world, curated by XHunt. To cut through the noise, the ranking uses a unique metric: "AI KOL Followers," which counts followers from within a core circle of 5,500 top AI figures. The list is dominated by executives from major tech companies, leading scientists, and foundational builders who shape industry consensus. Topping the list are figures like Andrej Karpathy (Eureka Labs founder, ex-OpenAI/Tesla), Sam Altman (OpenAI CEO), Greg Brockman (OpenAI President), and Jeff Dean (Google DeepMind). Other notable names include researchers like Ilya Sutskever (SSI), Yann LeCun (Meta AI), Demis Hassabis (Google DeepMind), and Andrew Ng, alongside entrepreneurs like Elon Musk (xAI) and Aravind Srinivas (Perplexity). The list highlights diverse roles: technical educators, open-source advocates (e.g., Clem from Hugging Face), policy experts, investors, and hands-on builders. It positions the English-speaking sphere as the theoretical "storm center" of AI, focused on core research, model development, and AGI pathways. The article concludes by teasing a forthcoming list for the Chinese-speaking AI community, described as a more application-focused "frontline workshop."

marsbit12m ago

English Region Top 100 AI Influence List

marsbit12m ago

The XRP Asian Breakout: Japan And South Korea Lead The Charge

The article "The XRP Asian Breakout: Japan And South Korea Lead The Charge" discusses the growing institutional and retail adoption of XRP in Japan and South Korea. It highlights a key development: SBI Group's reported plan to list a combined Bitcoin and XRP exchange-traded fund (ETF) on the Tokyo Stock Exchange, targeting $32 billion in assets under management, signaling a shift toward treating crypto as serious financial instruments. The piece attributes this regional interest to long-term economic conditions. Japan's decades-long near-zero or negative interest rate environment and South Korea's sluggish local returns created a generation of retail investors seeking alternative assets for yield. This background in retail foreign exchange trading made the transition to crypto, including XRP, a natural step. Fiona Murray, Ripple's APAC VP, notes that in these markets, XRP is increasingly seen as a store of value. The cryptocurrency's appeal is further bolstered by its connections to established institutions like SBI Holdings and its practical utility—offering near-instant settlement and low transaction fees compared to traditional banking. The article concludes that XRP occupies a unique middle ground in Asia, perceived as less speculative than other cryptos due to its institutional ties, while providing a modern alternative to conventional finance.

bitcoinist16m ago

The XRP Asian Breakout: Japan And South Korea Lead The Charge

bitcoinist16m ago

The Warsh Storm Approaches

The article "The Warsh Storm Approaches" analyzes the potential market impact of Kevin Warsh becoming the new Federal Reserve Chairman, succeeding Jerome Powell. It argues that the current AI-driven stock market rally, concentrated in high-valuation tech giants, relies on a crucial premise: that long-term interest rates will eventually fall. This premise is now under threat as the 30-year Treasury yield remains persistently high, exceeding 5%, due to sticky inflation, worsening U.S. fiscal deficits, and deteriorating Treasury supply-demand dynamics. The core vulnerability is that high long-term rates pressure valuations by increasing the discount rate for future earnings. The article warns that Warsh's policy stance could intensify this pressure. Unlike Powell, Warsh is seen as more tolerant of market stress, more committed to quantitative tightening (QT/shrinking the Fed's balance sheet), and less inclined to provide implicit market support. His tenure at the Fed during the 2008 crisis shaped his skepticism about prolonged quantitative easing, believing it fuels asset bubbles without sufficiently boosting the real economy. While strong AI-driven earnings growth could theoretically offset higher rates, the narrative is currently concentrated in a few firms and hasn't yet translated into broad-based productivity gains for the wider economy. Therefore, the AI boom may not be enough to counter the valuation pressures from sustained high yields. Warsh's leadership could force the market to confront a new reality where the old supports—low long-term rates and a reliably supportive Fed—are no longer guaranteed, potentially triggering a reassessment of sky-high stock valuations.

marsbit20m ago

The Warsh Storm Approaches

marsbit20m ago

Token Plans Launch: The 'Traffic War' in the AI Era, Now It's the Turn of Doubaos to Compete

China's major telecom operators are launching standardized "Token" service packages, marking a new phase in the AI era where model usage is becoming a commodity akin to mobile data plans. Operators like China Telecom and China Mobile are offering monthly subscription plans for individuals and enterprises, allowing access to dozens of AI models through unified platforms at set Token rates (e.g., 9.9 yuan for 10 million Tokens). This shift lowers the cost and technical barrier for users to switch between models like Doubao, Qwen, and DeepSeek. The article explains that a Token is the basic computational unit for large language models. Operators are transforming from selling voice minutes and data bandwidth to selling AI compute measured in Tokens. This model benefits developers and SMEs by providing predictable costs and easy access to multiple models without managing underlying infrastructure. As operators become aggregation platforms, competition among model providers intensifies. They must now compete not just on model capability but also on price, computational efficiency (cost per quality Token), and higher-value AI application solutions. The future may see a split where operators control the user access point, while model companies focus on core AI capabilities and specialized enterprise applications.

marsbit1h ago

Token Plans Launch: The 'Traffic War' in the AI Era, Now It's the Turn of Doubaos to Compete

marsbit1h ago

Trading

Spot
Futures

Hot Articles

What is $BITCOIN

DIGITAL GOLD ($BITCOIN): A Comprehensive Analysis Introduction to DIGITAL GOLD ($BITCOIN) DIGITAL GOLD ($BITCOIN) is a blockchain-based project operating on the Solana network, which aims to combine the characteristics of traditional precious metals with the innovation of decentralized technologies. While it shares a name with Bitcoin, often referred to as “digital gold” due to its perception as a store of value, DIGITAL GOLD is a separate token designed to create a unique ecosystem within the Web3 landscape. Its goal is to position itself as a viable alternative digital asset, although specifics regarding its applications and functionalities are still developing. What is DIGITAL GOLD ($BITCOIN)? DIGITAL GOLD ($BITCOIN) is a cryptocurrency token explicitly designed for use on the Solana blockchain. In contrast to Bitcoin, which provides a widely recognized value storage role, this token appears to focus on broader applications and characteristics. Notable aspects include: Blockchain Infrastructure: The token is built on the Solana blockchain, known for its capacity to handle high-speed and low-cost transactions. Supply Dynamics: DIGITAL GOLD has a maximum supply capped at 100 quadrillion tokens (100P $BITCOIN), although details regarding its circulating supply are currently undisclosed. Utility: While precise functionalities are not explicitly outlined, there are indications that the token could be utilized for various applications, potentially involving decentralized applications (dApps) or asset tokenization strategies. Who is the Creator of DIGITAL GOLD ($BITCOIN)? At present, the identity of the creators and development team behind DIGITAL GOLD ($BITCOIN) remains unknown. This situation is typical among many innovative projects within the blockchain space, particularly those aligning with decentralized finance and meme coin phenomena. While such anonymity may foster a community-driven culture, it intensifies concerns about governance and accountability. Who are the Investors of DIGITAL GOLD ($BITCOIN)? The available information indicates that DIGITAL GOLD ($BITCOIN) does not have any known institutional backers or prominent venture capital investments. The project seems to operate on a peer-to-peer model focused on community support and adoption rather than traditional funding routes. Its activity and liquidity are primarily situated on decentralized exchanges (DEXs), such as PumpSwap, rather than established centralized trading platforms, further highlighting its grassroots approach. How DIGITAL GOLD ($BITCOIN) Works The operational mechanics of DIGITAL GOLD ($BITCOIN) can be elaborated on based on its blockchain design and network attributes: Consensus Mechanism: By leveraging Solana’s unique proof-of-history (PoH) combined with a proof-of-stake (PoS) model, the project ensures efficient transaction validation contributing to the network's high performance. Tokenomics: While specific deflationary mechanisms have not been extensively detailed, the vast maximum token supply implies that it may cater to microtransactions or niche use cases that are still to be defined. Interoperability: There exists the potential for integration with Solana’s broader ecosystem, including various decentralized finance (DeFi) platforms. However, the details regarding specific integrations remain unspecified. Timeline of Key Events Here is a timeline that highlights significant milestones concerning DIGITAL GOLD ($BITCOIN): 2023: The initial deployment of the token occurs on the Solana blockchain, marked by its contract address. 2024: DIGITAL GOLD gains visibility as it becomes available for trading on decentralized exchanges like PumpSwap, allowing users to trade it against SOL. 2025: The project witnesses sporadic trading activity and potential interest in community-led engagements, although no noteworthy partnerships or technical advancements have been documented as of yet. Critical Analysis Strengths Scalability: The underlying Solana infrastructure supports high transaction volumes, which could enhance the utility of $BITCOIN in various transaction scenarios. Accessibility: The potential low trading price per token could attract retail investors, facilitating wider participation due to fractional ownership opportunities. Risks Lack of Transparency: The absence of publicly known backers, developers, or an audit process may yield skepticism regarding the project's sustainability and trustworthiness. Market Volatility: The trading activity is heavily reliant on speculative behavior, which can result in significant price volatility and uncertainty for investors. Conclusion DIGITAL GOLD ($BITCOIN) emerges as an intriguing yet ambiguous project within the rapidly evolving Solana ecosystem. While it attempts to leverage the “digital gold” narrative, its departure from Bitcoin's established role as a store of value underscores the need for a clearer differentiation of its intended utility and governance structure. Future acceptance and adoption will likely depend on addressing the current opacity and defining its operational and economic strategies more explicitly. Note: This report encompasses synthesised information available as of October 2023, and developments may have transpired beyond the research period.

363 Total ViewsPublished 2025.05.13Updated 2025.05.13

What is $BITCOIN

Discussions

Welcome to the HTX Community. Here, you can stay informed about the latest platform developments and gain access to professional market insights. Users' opinions on the price of BTC (BTC) are presented below.

活动图片

Top Questions