Dogecoin Technical Revolution: Can Zero-Knowledge Proofs and Cross-Chain Bridges Propel DOGE to Break Through the Meme Coin Ceiling?
The DogeOS team recently submitted the OP_CHECKZKP proposal to Dogecoin Core, planning to natively support Zero-Knowledge Proof (ZKP) verification on the Dogecoin network by introducing a new opcode. Initially, the Groth16 system will be adopted, processing a limit of 5 ZKPs per block to balance performance and security. This upgrade will support zk-Rollups and smart contracts while keeping the main chain lightweight and compatible with old nodes. The Ethereum-Dogecoin bi-directional bridge, developed in parallel by the MyDoge wallet team, enhances cross-chain efficiency using ZKP technology, allowing users to directly access the Ethereum DeFi ecosystem through MyDoge in the future. These technological breakthroughs aim to transition Dogecoin from a payment chain to a multifunctional public chain but face challenges such as performance optimization (10-20 milliseconds per verification) and community consensus (requiring 75% hash power support).
Despite the significant potential for technological upgrades, Dogecoin's price has recently come under pressure, trading in the range of $0.20–$0.24 in August, down 15% from July's peak. On the institutional level, Nasdaq mining company Bit Origin invested $500 million to establish a DOGE reserve, aiming to become one of the largest publicly listed holders and explore integration of payment scenarios; the Dogecoin Foundation also purchased 10 million DOGE to promote merchant applications. However, whale addresses sold about $4.6 million in DOGE in August, with funds flowing to practical projects like Remittix, reflecting market concerns about the sustainability of 'meme coins.' In the short term, attention should be paid to the $0.20 support level, while the long-term outlook depends on the implementation of technology and ecosystem expansion.