Since the start of Russia’s invasion of Ukraine, the crypto community has organized to support the Ukrainian people, and their unity is pleasant to witness.
The Ukrainian government now takes the popular dog-head coin memes, Dogecoins, after creating addresses for donations in Bitcoins (BTC), Ether (ETH), Polkadot (DOT), and Tether (USDT).
Indeed, on Wednesday, March 2, Ukraine’s Deputy Prime Minister and Minister of Digital Transformation stated that the country will accept Dogecoin donations.
Mykhailo Fedorov, Vice Prime Minister and Minister of Digital Transformation, requests assistance from Billy Markus (BillyM2k), the creator of the renowned dog’s head corner, as well as Elon Musk, one of its strongest supporters (and an expert in “trolling” on the subject). He encourages them to contribute because “even memes can now fund our army and rescue lives against Russian invaders.”
Billy Markus replied swiftly to this call.
Dogecoin people are usually not wealthy, and Dogecoin itself is usually used for small transactions, but we are a caring and passionate bunch. Those who want to help will offer what they can. “
WHEN A DOGE IS VALUED AT TWO RUBLES
With the Russian ruble’s value plummeting like a stone, numerous cryptos enable the government to keep liquidity that does not collapse.
Despite the fact that cryptocurrency prices are not set, the price of the ruble has halved to $0.0086 at the time of writing this article. The Doge is now trading at roughly $0.13, with a considerably more gradual but less severe depreciation than the country’s official currency.
According to the blockchain data, the gifts received total about 400,000 Doge for approximately 607 transactions. At the current exchange rate, this equates to roughly $52,000 USD.
Ukraine has stated via its official Twitter account that it will be airdropping cryptocurrency in order to thank everyone who has given cryptocurrency.
However, at 12:00 p.m. today, Mykhailo Fedorov wrote a statement on Twitter expressing a change of course.
According to the most recent estimates, numerous contribution requests, whether from Ukraine or other non-governmental groups, have raised approximately $80 million in cryptocurrencies.
Whether we like the extremely contentious orange dog head cryptocurrency or not, we can only applaud its use in these challenging circumstances. And it thanks its supportive community for not being afraid to show their support.