With many cryptocurrencies thriving on speculation and media hype, there is something about Dogecoin (DOGE) that has set it apart from the other digital currency platforms. This is a coin that is highly unpredictable since day one of its launch in 2013. Its creation was based on fun and continues to be frowned on as a digital coin that will not survive the market intrigues.
Known as the fun coin, many crypto enthusiasts at first though the coin was headed to the dead coin pile but that has not come to pass. To the surprise of many the coin has remained stable in the market to curve a name of its own with a very stanch community.
However, the resilient coin has grown and challenged mainstream coin and is now ranked 37 h by market cap. The coin has been involved in charity Jamaica and Kenya and its popularity keeps souring after the team behind the project seemed undecided to continue or let it go after the outfit was hacked and users lost millions worth of Doge. So why are buyers scrambling for DOGE?
Dogecoin (DOGE) Value Proposition for Mass Adoption
Success stories of early cryptocurrency adopters are one fact that is driving the mosses to stake on Dogecoin (DOGE). The coin price is just right at a time when users are more informed about digital currencies and how to invest professionally. The coin price is also at rock bottom giving the ordinary user a chance to come onboard.
Many investors are scared of volatility and as an entry point into the digital money market buying lowly priced digital coins is the trend. When prices in the market crash, the margins are not that noticeable and the investors do not feel the pinch. Many middle class investors are opting for DOGE instead of a Bitcoin fraction which is more viable according to recent research.
Dogecoin (DOGE) Has Not Been Discovered
With many traders being drawn into investing in digital coins by the Fear of Missing Out (FoMO), many have realized that most mainstream coins and tokens are being manipulated by the market whales and the small holders or minnows are the ones who end up losing after any pump and dump market hype. To protect themselves from such schemes, Dogecoin appears to be a safe haven.
Whales and speculators are in the market positioning them for the next possible bubble and the parody digital coin has not been discovered. The coin had been abandoned literally and this is the time are realizing the gem. The increasing popularity is poised to give the coin additional stability, increased value and a spike on the DOGE price.
Dogecoin DOGE) Recent Updates
Any blockchain outfit worth its salt keeps updating and improving its infrastructure and the developer team at Dogecoin (DOGE) has in the recent past tweaked the platform to suit the user-base demands. With the release of new protocols, merchants like LazyPyramid are now accepting DOGE as a payment method.
Dogecoin platform continues to attract more exchanges and the recent listing on Robinhood has aroused a lot of interest from traders and this has seen the DOGE price traction shift north and a spike on the market cap. Robinhood is seen as the best route to the market for DOGE that will see it earn a global coin status.
The sleeping giant has gained by 2.87% against the dollar and 1.56% to BTC to trade at $0.003527. During the last 24 hour trading period, a total of $11.4 worth of DOGE has changed hands with most of them hitting the market through Fex exchange with DOGE/BTC pair being popular for the day.