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Home»TRADING NEWS»This Dogecoin (DOGE) wallet is shutting down
TRADING NEWS

This Dogecoin (DOGE) wallet is shutting down

By Crypto FlexsMay 3, 20242 Mins Read
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This Dogecoin (DOGE) wallet is shutting down
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DogeChain, the popular platform that manages Dogecoin transactions, has declared that it will shut down on June 1, 2024.

The platform urges users to quickly transfer DOGE tokens to other wallets and protect their private keys before closure.

Dogecoin (DOGE) Wallet Closure Announced

The announcement on the DogeChain website marks the end of a major service within the Dogecoin community. This platform has been essential for storing, sending, and receiving Dogecoin for years.

In fact, it was more than just a DOGE wallet, it was an integral part of the Dogecoin ecosystem. Running on the Ethereum Virtual Machine (EVM) and powered by Polygon (MATIC), DogeChain provided a layer 2 scaling solution. This setup facilitated faster and more cost-effective transactions for Dogecoin holders and expanded access to NFTs, blockchain-based gaming, and DeFi services.

The platform now advises users to move their assets immediately to avoid potential losses.

“Send your DOGE on DogeChain.info by June 1st (just use the .info domain!). Also, keep a copy of your private key if you continue to use this address. If you do this, you may accidentally recover your funds. I will either send it or receive it in the future.” Dogecoin Developer Mishaboar decided.

Read more: 8 Best Ledger Wallet Alternatives for Cryptocurrency Storage in 2024

Current DogeChain status. Source: DogeChain

The decision to shut down the platform was part of the Dogecoin community’s collective progress toward embracing newer, more reliable, and decentralized platforms. As June 1 approaches, all DogeChain users must act quickly to protect their assets.

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In compliance with Trust Project guidelines, BeInCrypto is committed to unbiased and transparent reporting. These news articles aim to provide accurate and timely information. However, before making any decisions based on this content, readers are encouraged to check the facts and consult with experts. Our Terms of Use, Privacy Policy and Disclaimer have been updated.

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