Dogecoin: In a world where advertising cryptocurrencies has been pushed to select social media channels, it has become hard for individual digital assets to showcase their potential to their target audiences. Many platforms have been thriving on hype and adopters just jump in without a second thought. However, Dogecoin (DOGE) has defied the hype mantra and has come out shining.
One reason the coin has been appreciating in the crypto sphere is simple; Dogecoin is fully decentralized and its systems are rooted on the original Bitcoin vision of a digital asset of providing an alternative to the fiat economy. The community also understands investing large amounts is risky and kept their portfolios to the minimum.
Dogecoin Community Crypto Awareness
Crypto awareness has taught investors to look for decentralized digital assets to invest in and that is one reason why DOGE cannot be manipulated using fiat to pump the price, get rich quick and exit to the fiat economy living the coin to bleed. The past has shown that greed has torn so many noble projects apart leaving DOGE to thrive naturally navigating through market forces.
The team behind the platform is drawn from a passionate community and there are no speculators. This has also locked out middle men that use fiat to manipulate crypto value and once they achieve their goal move to the next promising coin to pump and dump with their profits stashed away in major coins or fiat.
Dogecoin (DOGE) Price Momentum Slow Down
After a commendable price surge in August and early September, DOGE price momentum appears to have eased off but it is not an isolated case, most of altcoins are in the red as well. The DOGE addition to trade on Poloniex has been cited as one reason for the price spike which coincided with the Dogethereum project.
However, there has been a lot of misunderstanding with many users thinking the Bridge is already live prompting a tweet from the Ethereum Foundation member, Alex Van De Sande saying:
“The Dogethereum team is still working hard on the bounty, and now they will present work in order to reach a new milestone for 746 Ether. All information is being made public beforehand so the public and the judges can make a decision”
The clarification that the Bridge is still a demo appears to have contributed to the current DOGE price status. However, the coin market cap has remained stable making it enter the top 20 most valuable coins in the market. The project evaluation and outcome might set a new record with the coin price hitting a high pf $1.
With renewed passion on the coin and its growth, user hopes are in high with one DOGE coin holder, deadrail tweeting:
“Honestly I’d be happy if dogecoin hit 50 cents to 3 bucks this year in q4 when all the coins rise. And if it hits 20 next year. Then if it got between 30-100 four to five years from now. Honestly 20 bucks a coins is what I’m hoping for in the future.”
Dogecoin (DOGE) Price Check
The last 24 hours have seen the market hot the red trail again after a 7 day streak of gains and this has had mixed reactions on DOGE. The coin has gained 1.40% to Bitcoin but is down 1.81% to the dollar, a balance that indicates traders are still torn between the crypto and fiat economies.
Traders are still panicking with Bitcoin controlling 56.3% of the market leaving the altcoins to share the remaining 43.7% of the market share. However, the marginal drop on DOGE value appears to draw traders to the coin with the Chines market, through Gate.io controlling 21.83% of the total volumes.