RenDOGE (RENDOGE), customized performance Dogecoin (DOGE) on Ethereum (ETH) blockchain – skyrocketed to a record high of nearly $ 0.46 on Monday.
What happened: At press time, RENDOGE was trading 8.96% higher to hit $ 0.42, while ETH was trading 9.38% higher to hit $ 3,300.75.
DOGE hit all-time highs on Monday night, almost hitting $ 0.45 thanks to Tesla Inc (NASDAQ: TSLA) CEO Elon Musk’s upcoming speech on Saturday Night Live. The Shiba Inu cryptocurrency was trading up 10.93% at time of publication to hit $ 0.42.
See also: How to buy Dogecoin (DOGE)
ETH also climbed to a fresh all-time high of $ 3,450.04 on Monday night.
Why is it important: Ren, an open protocol that claims to allow value to be transferred between blockchains, launched renDOGE in January.
The Open Ren Doge decentralized app or dApp allows you to mint and write DOGE on Ethereum. Ren’s COO Michael Burgess said of the development at the time: “Dogecoin is no longer a meme coin; it is now a viable financial instrument in its own right. “
RenVM is a decentralized custodian where you can deposit bitcoins, doge and renDOGE or renBTC on smart contract blockchains like Ethereum and binance smart chain. Then the Doge will have access to defi
– renDOGE (@ renD0GE) April 16, 2021
Coins, projects and the entire arena related to DeFi or decentralized finance have been gaining momentum lately. PanCakeSwap (CAKE) and Binance Coin (BNB) are some of the other cryptocurrencies that have skyrocketed recently amid frenzy.
Read more: Crypto Gains Bought House For Washington Engineer Who Gambled On Chainlink And Escaped Dogecoin Like The Plague
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