Dogecoin’s lead developer, Ross Nicoll, opposed the move to the cryptocurrency’s proof-of-stake consensus mechanism, saying it would not benefit Dogecoin like other cryptocurrencies.
Despite this, Dogecoin continues to gain popularity and has the support of celebrities such as Elon Musk and Mark Cuban.
The cryptocurrency also burned 20.5 million coins, contributing to its rise in value.
The burn destroyed more than 6% of Dogecoin’s total supply, making it a hot topic among cryptocurrency enthusiasts.