Dogecoin Escalates to the Second Largest PoW Cryptocurrency

• Dogecoin becomes the second largest PoW crypto.
• The meme coin owns a market cap of $7,900,262,107.
• In the list of prominent cryptocurrencies, Dogecoin is placed in the tenth position.

After the Merge went live on September 15, Dogecoin became the second largest proof-of-work (PoW) crypto with a market cap of $7,900,262,107.

After the much anticipated Ethereum Merge, Dogecoin, which remained the third largest crypto, now rose to the second position, much ahead of notable coins such as Litecoin (LTC), Ethereum Classic (ETC), and Monero (XMR).

The first decentralized digital currency, Bitcoin, remains the largest crypto with a market cap of $378,800,738,595.  Considering all the assets, Dogecoin was placed in the tenth position as the most prominent cryptocurrency.

But the sudden rise of Dogecoin wasn’t equally accepted by all the crypto traders. Though some of the investors highly celebrated the rise, there were many people who were highly disappointed.

One of the traders tweeted his excitement, stating, “Who would have thought that this would happen? Congrats #Dogefam.”

On the other hand, many people became anxious about the possibility of diminishing seriousness in the crypto space and demanded to remove the “useless coins” from the list to avoid the pressure.

The current position of Dogecoin underscored the increasing interest in the asset. It is anticipated that Dogecoin will soon be competing against ETHPoW.

According to the official Twitter account of ETHPoW, the Ethereum hard fork chain would continue mining.

The community awaits to see what the future holds for this meme coin. With the support of global leaders such as Elon Musk and a loyal following, it looks like this is just the beginning for Dogecoin.