Dogecoin (CRYPTO: DOGE) dropped 7% Wednesday, but a daily golden cross remains intact as DOGE tests key support levels.
Prominent analyst analyst Kevin highlighted the $0.083 to $0.089 range as a major support zone for Dogecoin after the meme coin recently broke above key daily moving averages that had capped price for roughly a year.
He argued that a pullback into the recently reclaimed moving averages would be normal.
The support survives or not could ultimately depend on Bitcoin‘s (CRYPTO: BTC) performance.
How Payment Layer Targets 300x
Dogecoin Foundation board member and Metallicus CEO Marshall Hayner on Tuesday pointed to Elon Musk’s 2021 proposal to make Dogecoin faster by 10x, increase block sizes by 10 times and cut fees by 100 times.
Musk argued those improvements could make Dogecoin a clear winner for payments.
Hayner said those targets were difficult under Dogecoin’s existing proof-of-work architecture.
Metallicus and Metal Blockchain instead built a separate proof-of-stake payment layer that he says is 300 times faster.
The network retains the UTXO model used by Dogecoin and Bitcoin while allowing customizable fees and removing throughput’s dependence on block size.
Hayner described the payment layer as an opening toward the “blockchainification of finance,” suggesting the technology could extend beyond Dogecoin payments into wider financial applications.
He said the infrastructure was “built for X” and fintech companies, but did not indicate that X has adopted the technology.
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