Ukraine to accept Dogecoin donation in war. Will it trigger a rally?

economictimes.indiatimes.com:

Dogecoin to the list to support the cause. With the addition of Dogecoin, the list of donations supported by cryptos is now extended to half a dozen. The dog-themed meme coin joins Bitcoin, Ethereum, Tether, Solana and Polkadot. Ukraine's Vice Prime minister and minister and minister of digital transformation, Mykhailo Fedorov, tweeted the Doge wallet address in an effort to solicit donations in the dog-themed cryptocurrency and tagged Elon Musk, fondly monikered as 'Doge Father'.

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According to the latest numbers, the crypto donation effort has brought in more than $40 million to Ukraine so far. However, despite Ukraine's call for Doge donation, the crypto movement has been limited so far as the price-volume action in the token has been range-bound in the last couple of days. The volume of the counter has dipped about 22 per cent as tokens worth only $5.6 million exchanged hands in the last 24 hours, hinting towards lower trades. The price of Dogecoin has taken a hit, as the memecoin along with other altcoins was bleeding on Friday. It dropped as much as 5 per cent to $0.1259 at 9.50 IST, with a total marketcap of less than $16.75 billion. However, the addition of Dogecoin to the list has boosted the morale of the investors, who believe that markets are realising the value of decentralised virtual currencies. «War-like situations may mean gold being locked into banks, accounts being frozen or limits on withdrawals but no impact on cryptos with no boundaries, no hassles, the power and wealth to use,» said Raj A Kapoor, Chief Advisor, Acryptoverse. Investors have historically relied on stable assets like gold in