Sa. Dez 2nd, 2023

Dogecoin to launch new attack with update – SEC takes Elon Musk to task

As the rally begins to die down, Dogecoin has been given an update. Meanwhile, the SEC is keeping an eye on Elon Musk’s DOGE tweets.

After weeks of unbridled gains, the Dogecoin rally has started to show cracks. While the DOGE price was able to rise to over 8 cents three weeks ago in the course of organised pumping manoeuvres, profit-taking has now pushed the altcoin back below 5 cents. On a 14-day view, the Dogecoin has lost almost 20 percent. With a new update, the Bitcoin Freedom developers want to bring the coin with the Shiba Inu motif back into the race.

The new Dogecoin Core version 1.14.3 has been available for download on Github since 28 February. The update contains „important performance improvements“, as the developers write on Reddit, and is strongly recommended for all users.

Specifically, the synchronisation speed is improved. The update „removes expensive integrity checks“ that were always carried out when a block was sent to a node. The elimination of these checks significantly accelerates the speed at which nodes can upload blocks. Checks are now only performed when a block is received and when scans of the stored blockchain are performed.

In addition, the mempool expiry time has been reduced. All transactions still to be processed end up in the mempool awaiting confirmation. The update has reduced the default time transfers wait in the mempool from 336 to 24 hours.

The new version can be installed „seamlessly over an existing 1.14 installation“. No uninstallation or re-download is necessary. Users only have to shut down the Node, perform the installation and restart the Node. The update speeds up DOGE payment processing considerably. This is not an insignificant factor for a cryptocurrency whose primary use case is sending very small amounts.

Elon Musk under SEC scrutiny

While Dogecoin is gearing up for tip and microtransactions, the SEC is becoming increasingly interested in Elon Musk’s Twitter excesses. After all, the Tesla boss continuously causes price explosions with DOGE tweets. However, he may have gradually gone too far with this.

According to the news aggregator First Squad, the SEC is „investigating Tesla CEO Musk for his tweets about Dogecoin“. The news ticker referred to „sources familiar with the matter“. It would not be the first confrontation between Elon Musk and the US Securities and Exchange Commission.

Musk has been under scrutiny by the regulator for some time. Since 2019, he has had to have every tweet that could influence Tesla’s share price approved by a lawyer beforehand. He may have violated these requirements with his series of tweets.

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