After the ethereum merge, Dogecoin which is the meme coin now become the second largest PoW-powered asset.

Dogecoin used to be the third largest PoW crypto-currency, but after Ethereum switched its mechanism to Proof of Stake (PoS) on Sept. 15. 

Dogecoin now become the second largest proof-of-work(POW) cryptocurrency in terms of market cap.

Although Bitcoin still maintains the top spot, in proof-of-work ahead of Dogecoin, the fact that Dogecoin has risen above Litecoin(LTC), Ethereum Classic (ETC), and Monero (XMR)  in the ranking chart.

In all digital assets Including PoS mechanical tokens, Dogecoin still ranks 10th among the largest digital assets. with a market capitalization of $8.04 billion at the moment

if considering all digital assets Including PoS mechanical tokens, Dogecoin still ranks 11h among the largest digital assets. with a market capitalization of $7.04 billion according to coingecko at the time of writing this article.

Ethereum co-founder Vitalik Buterin, who is an advisor for the Dogecoin Foundation has forwarded a proposal for Dogecoin to transit from its current proof-of-work to proof-of-stake in September 2021.