Dogecoin (DOGE), the hottest crypto coin in the market for the past two weeks is still on a bullish trend. This is quite contradicting with the price action from peer crypto coins that are struggling to maintain value; Ethereum for example is going to the lows of $217. At the moment, DOGE is exchanging at $0.0058 against the dollar while 0.00000089 is its price against Bitcoin. Dogecoin’s outstanding performance has seen the altcoin move to the top 20 digital assets in market capitalization, it consists 0.3057% of the total crypto markets today!
The Dogecoin network and crypto coin has existed for over four years; this project began as a joke but is on a different level today. Jackson Palmer and Billy Markus were the reddit developers whom designed the ‘Shiba Inu dog’ Dogecoin cryptocurrency. In addition, the altcoin gained popularity by using the ‘dog meme’ for its logo (Identity within the crypto space).
Despite Dogecoin’s joke nature, the project’s following today surpasses that of most cryptocurrencies. Its community is vibrant and up to date developments are on-going within the coin’s infrastructure. The most recent was the Dogethereum bridge release which sparked excitement and probably helped the DOGE coin to maintain stability in a bearish market.
DOGE Amazon Prospects
Cryptocurrencies are after the adoption of the services they are trying to provide. Dogecoin for example is currently petioning to be added to major coin exchanges and integrated with Amazon as a future payments solution.
Roughly one year ago, a petition to make Amazon accept the Dogecoin cryptocurrency was launched by an individual named Mark. This was done through Change.org and is still collecting signatures for this milestone. Today, the target of 10,000 signatures is only 900 away.
As of press date, Amazon is yet to incorporate crypto coins into its mode of payments. However, Mark argued that this excludes a good number of potential Amazon customers from using the services offered. This is because not all the world’s population is connected via a specific form of traditional finance.
According to Mark, the US based multi-billion company should consider Dogecoin if it comes to crypto adoption. Dogecoin’s features stand out besides being fully decentralized unlike Ripple (XRP). The altcoin is fast, low cost, large supply quantity and has shown gradual improvement since its inception. Furthermore, Dogecoin is a probable safe haven for crypto investors trying to escape large swings in the price action. This may however not always be the case given the volatile nature of cryptocurrencies.
Today, Dogecoin has been adopted by small players within the financial markets ranging from businesses to charity foundations. Its use has proven more efficiency placing it among the fundamental coins in practicality and a good HODL as well.
Change.org has become a significant figure in getting cryptocurrencies adopted or listed since the hype and market rally in Q4 of 2017. For instance, back in April the organization petitioned Coinmarketcap to accurately represent the supply of Bitcoin Cash (BCH). Also, late last year Change.org was trying to help the XRP community to have the tokens added on Coinbase. This is not to say that all petitions have been successful but the organization is definitely here to make a difference in the adoption of new technologies.
DOGE Market Overview
Dogecoin has been in the green zone gaining 144% in the past two weeks. The Proof of Work based coin ROI is quite appealing at 858% since the Dogecoin ICO while its monthly return is at 30.84% according to coincheckup. Dogecoin’s volatility in the past month stands at 70% although this was more of gaining as opposed to both sides movement. Crypto analysts speculate that with its solid performance, the coin might hit its all-time high of $0.0174 in the future.