The third quarter has seen Dogecoin (DOGE) transform from an undervalued meme-themed coin to a digital asset that has real world use cases and a huge potential going towards the last quarter of the year. The most anticipated Dogecoin use case announcement appears to have changed the perception of the asset making it the largest gainer in the market at press time.
September 5th is the big day for the joke coin and the entire Dogecoin family as the coin releases their ambitious project; the Dogethereum. With investors interested in coins with real world user cases more than the value, Dogecoin is in the forefront of satisfying their demands through the Ethereum network.
Cross Chain Transactions Enabler
The team working on the Dogecoin platform has announced September 5 and the day they are to launch Dogethereum. This is a link between the two market players that will see real token transfer between the two blockchains. This is a new kind of chain that will revolutionize the blockchain industry.
Dogethereum is a smart contract based system that will work a simple enabler bridge that facilitates fast and easy inter-chains transfers. The relationship will increase Dogecoin flexibility and ride on Ethereum’s stable ecosystem. This is a bridge that has possibilities of being extended to other compatible crypto ecosystems in the near future.
Dogecoin (DOGE) Months All-time High
The Dogethereum announcement appears to have come at the right time and has seen the coin price surge to months high. Once the deal is done, DOGE is set to gain more liquidity by riding on the stability of ETH and this will spark its price up.
When the connection is commenced, Dogecoin will gain from the link by being supported from Ethereum’s stable token price movement and liquidity. This comes as a conclusion from the services that Ethereum delivers. The good new comes after Robinhood, a mobile payment system added DOGE on their product portfolio one month ago.
Dogecoin is now available on Robinhood Crypto, commission-free. https://t.co/EAbLmaxtjN
— Robinhood (@RobinhoodApp) July 16, 2018
Dogecoin (DOGE) New Lease of Life
The last two days have seen the DOGE price get a new lease of life, a momentum that it continues trading in the green zone. At the time of reporting the coin was trading at $0.003863 after impressive gains of 37.94% and 38.15% to the dollar and BTC respectively. The spike is set to hold until September 5th and stabilize thereafter.
With the ETH price still headed north, we are yet to find out how the Dogethereum “crypto-bridge” project will affect the two platforms prices going forward. With the positive investor reaction and the DOGE price on the rise, there is more to celebrate for the community as the coin visibility is on the increase.
Why the Dogecoin (DOGE) Rise?
It appears like the DOGEFam or community has realized they are sitting on gold. The support they are showing on their sub-reddit channel and social media is a clear indication of how passionate they are behind the once belittled joke coin. Now the digital asset is moving one step higher from a tipping coin to building a transaction bridge with the largest market mover’ Ethereum.
Dogecoin has proved a stable coin in the eyes of the investor and getting ranked 26 by market cap attests to this. Lastly, DOGE is an entry point coin that is getting more use cases and this means increased usability that will drive additional adoption and value.