Over the past week, DogeOS has launched a public testnet for trading, lending, and other DOGE-based applications, allowing Dogecoin holders to use their coins not just for payments and speculation. Timothy Stebbing, director of the Dogecoin Foundation, highlighted this event in a recent post on X, noting that there is an "absolute wave" of new projects on the Doge/EVM chain.
DogeOS, developed by the team behind the MyDoge wallet, is positioned as an application layer for Dogecoin and allows developers to use familiar software to create applications that leverage Ethereum compatibility. In the same vein, the company Metallicus introduced DogecoinVM, which connects Dogecoin to the Metal network. DogecoinVM is described as a DOGE-compatible registry on the Metal blockchain that significantly increases speed and interoperability, making Dogecoin 300 times faster with instant finality. Stebbing noted that these developments mean more opportunities to create amazing solutions based on Dogecoin, which is a positive sign for the network.
In positive price developments, Dogecoin is on track to form a golden cross on its daily chart as the moving averages MA 50 and MA 200 converge. If confirmed, this will mark Dogecoin's first golden cross in 2026. The last time Dogecoin saw a golden cross was in August 2025, after which the price rose to $0.30 in September 2025. Currently, Dogecoin is trading at $0.093 amid a general decline in the crypto market due to a weak labor market report in September, which shifted traders' outlook on the Federal Reserve's rate hike in October. This event is now considered highly unlikely, but investors continue to hope for a rate increase in December. A decision regarding the next rate change will be announced at the end of a two-day meeting concluding on October 28.
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.
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