The Dogecoin Foundation announced some fantastic news for the Dogecoin community on Saturday. On December 31, the foundation made a formal announcement about the establishment of a fresh community Dogecoin Core development fund. The Dogecoin Foundation initially sent 5,000,000 DOGE to the development fund.
Exciting news to end 2022 on!https://t.co/6y20WIf5Aj
— Dogecoin Foundation (@DogecoinFdn) December 31, 2022
The Dogecoin community's enthusiastic response caused the DOGE price to increase by more than 2% in just one hour.
The price of DOGE is $0.0707 at the time of writing. The value of DOGE has declined by more than 8.4% over the past week despite an increase of more than 5.4% over the previous 24 hours.
The foundation will see that 5,000,000 DOGE are given to Dogecoin Core. The growth of the Core will have a significant positive impact on the Dogecoin ecosystem. To maintain transparency, the team will blog about all expenses and developments.
The new multi-signature wallet will be operated by Dogecoin Foundation members and Dogecoin Core engineers. The DOGE that is kept in the wallet will be instantly sent to the Dogecoin Core developers. This document must be signed by three out of the five custodians.
There are currently 4,999,999.90 DOGE tokens in the wallet address.
The development is supervised by current core developers and Dogecoin Foundation signatory board members.
In addition, the Dogecoin Foundation appointed Marshall Hayner to the board of directors in honor of his creation of Dogecoin.
