Dogecoin (CRYPTO: DOGE) is set to release a new version of its blockchain tool, Libdogecoin, according to Michi Lumin, a core engineer of the meme crypto.

The updated version 0.1.2 will come with improved features, such as mnemonic/seedphrase generation, QR code production, and better support for Microsoft Visual C++ and Visual Studio, Michin said.

The Dogecoin Foundation aims to make it easier for developers to integrate products with the DOGE ecosystem through the use of Libdogecoin.

The foundation believes that this implementation will lead to greater innovation within the community. With Elon Musk's recent moves towards crypto payments on Twitter, there is growing interest in Dogecoin, which is currently valued at $0.09248, a 31% increase from the start of the year.

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Can Dogecoin Reach $1 In 2023?

While the cryptocurrency experienced a decline in 2022, the start of the year has seen a positive upturn in the industry.

Observing Dogecoin's past market reactions, it's not out of the question for the coin to experience another rally, especially with the continued influence of Musk, who is known as the "Dogefather."

However, for Dogecoin to reach $1, it will need more than just Musk's influence, as the coin's integration into Twitter and an upgrade to its technology could also play a major role.

The transition to a proof-of-stake blockchain could push Dogecoin beyond its current standing and attract a massive influx of retail investors.

However, any potential upgrade remains a controversial topic within the Dogecoin community.

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