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Dogecoin Exceeds Russian Ruble in Value, Ukraine Receives Donations in DOGE

UTC by Bhushan Akolkar · 3 min read
Dogecoin Exceeds Russian Ruble in Value, Ukraine Receives Donations in DOGE
Photo: Depositphotos

In less than 24-hours of opening a DOGE address, the Ukrainian government has received $67,000 in Dogecoin donation as the meme cryptocurrency overtake Russian Ruble in value.

The Russian Ruble has witnessed one of its most catastrophic collapses after the financial sanctions levied by the West following Russia’s invasion of Ukraine last week. The ruble is down 40% against the US Dollar so far. Interestingly, the popular meme coin DOGE surpassed the Russian ruble in value after the country attacked Ukraine.

DOGE Donations for Ukraine

Following it, the Vice Priminister of Ukraine Mykhailo Fedorov requested Dogecoin (DOGE) donations. This comes as part of the country’s crypto fundraising efforts to counter the Russian invasion.

“Dogecoin exceeded Russian ruble in value. We start to accept donations in meme coin. Now even meme can support our army and save lives from Russian invaders. $DOGE owners of the world,” reads the tweet from the Ukrainian Vice PM.

In his tweet, the Ukrainian Vice Prime Minister also tagged Dogecoin creator Billy Markus and billionaire Elon Musk. Besides, he also shared the address for receiving DOGE donations.

As per the blockchain records, the address provided by the Ukrainian Vice PM has so far received more than 509,192.76162288 DOGE worth $66,600. Responding to the Vice PM’s request, Billy Markus said:

“Dogecoin folks aren’t usually rich and dogecoin itself is generally used for small transactions, but we are a caring and passionate bunch those who want to help will offer what they can ~ i hope the country can heal and rebuild stronger after all of this”.

Ukraine Extends Benovalance to Crypto Community

On Wednesday, Ukraine’s official Twitter handle said that they will be conducting an airdrop as a reward to the donors. Although not many details of the airdrop are available, the tweet reads:

“Airdrop confirmed. Snapshot will be taken tomorrow, on March 3rd, at 6pm Kyiv time (UTC/GMT +2 hours). Reward to follow! Follow subsequent news re Ukraine’s crypto donation campaign at @FedorovMykhailo”.

Many popular crypto personalities have also come forward to extend help to Ukraine. Polkadot founder Gavin Wood announced a $5 million donation in DOT tokens to Ukraine. “The people of Ukraine fighting for our freedom are forever grateful to Gavin Wood @gavofyork for the generous donation of $5M of @Polkadot $DOT as promised publicly. Thank you from all of us here in Ukraine working for a peaceful future,” reads the Ukraine Twitter handle. 

On the other hand, decentralized crypto exchange Uniswap has built a function allowing people to convert any Ethereum-based ERC 20 token to ETH and send it to the Ukrainian government.

Altcoin News, Cryptocurrency news, News
Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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