The Dogecoin Foundation announced the release of GigaWallet v1. Dogecoin’s GigaWallet will revolutionize DOGE payments. After the update, the DOGE price increased significantly. However, later on, DOGE lost altitude along with the market.

Dogecoin Foundation shook the agenda with GigaWallet launch!

Dogecoin, the largest meme coin by market capitalization, has made significant gains recently. It even reversed Cardano (ADA) in the process. Dogecoin’s price rose 8% on the day due to the overall positive sentiment in the market and the launch of GigaWallet. Moreover, Dogecoin is expected to capitalize on the benefit of the GigaWallet launch and boost DOGE price gains.

GigaWallet 1.0 brings a flexible system for managing Dogecoin payments. It therefore marks an important milestone for the cryptocurrency. This was made possible thanks to the dedicated efforts of raffecat and other contributors.

What does GigaWallet bring?

In addition, major updates to GigaWallet include the implementation of key features such as multiple payment addresses, fee deduction logic for payments and improved error handling. In particular, the integration of Core estimatesmartfee for fee calculation further increases the efficiency and reliability of transactions. The release also welcomes new contributors, with H7-25 making its first contribution. This underlines the growing community engagement and collaborative spirit in the DOGE ecosystem.

GigaWallet is described as a backend service that provides an integration API for various platforms, including online stores, exchanges and social media platforms. It also provides a seamless solution for Dogecoin to be traded programmatically. Dogecoin early adopters have already started leveraging the platform to create innovative solutions that reflect the excitement and potential for widespread adoption of Dogecoin. In addition, the Dogecoin Foundation hopes to witness other DOGE supporters making the list.

DOGE Price Increases

Following this news, the DOGE price rose 8.02% to $0.1857 during the day. Meanwhile, the meme coin reached a market capitalization of $26.8 billion. Later on, however, the popular meme coin lost altitude. At the time of writing, DOGE was down to $0.1795. However, Dogecoin is still over 32% in the green zone on its weekly chart.

Dogecoin, meanwhile, entered a bearish trajectory as long-term holders started taking profits. According to Coinglass, more than $5 million of the total liquidation of $7.09 million in the last 24 hours was recorded as long liquidation.