ForexMinute.com – In a few hours from now, the Dogecoin blockchain will reach its next halving. At the present time, it is on 298,833 and is offering a mining reward of 125,000 Dogecoin per block. Upon reaching the 300,000th block, the mining reward will be automatically halved – resulting in 62,500 Dogecoin per block. As a result, there now will be the generation of only 90 million Dogecoin each day, as opposed to the previous 180 million units.
Speculation over Dogecoin Prices
The first halving displayed a massive price surge in Dogecoin charts, but eventually it crashed back to its stable form. This halvening however is completely dependent on the demand of Dogecoin in the cryptocurrency market. For obvious reasons, we will be seeing a huge drop in Dogecoin creation in upcoming days, which would also impact its demand in the market eventually. It is, nonetheless, depends on the adoption of the Dogecoin, upon which we will see if its prices accelerate or decelerate.
The community will have to take care of this analogy. More merchants mean more demand; and a less supply means inflation in the value.
Impacts on Multipools Mining
The impact of the halvening on multipools mining is difficult to predict as per now. There are two possibilities to consider: first one being the case in which the Dogecoin price in exchange doesn’t surge at the time you receive half the coins, then your profit will suffer eventually; and another being the case in which price rises exponentially by the time you receive the same amount; that would clearly see multipools again.
Overall, we expect the upcoming Dogecoin halvening to pass without leaving any dramatic impression. However, its impacts – good or bad – will be visible sooner. We will keep you updated on this.
To contact the reporter of the news: Yashu Gola at firstname.lastname@example.org
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