Ethereum is a blockchain platform that allows developers to build decentralized applications (dapps) and smart contracts. It is the second-largest cryptocurrency by market capitalization after Bitcoin, and has a large developer community and ecosystem of decentralized finance (DeFi) applications built on top of it.

As the hype around the news mount, approximately $1.7 billion has been pumped into Dogecoin’s market capitalization in an extremely short period of time pushing the meme coin’s market cap to reach $12.76 billion, the highest figure since December 2022.