A coin which was being considered as a joke and the firm gave itself the name of ‘meme coin’ by the inspiration of Japanese dog bread ‘Shiba Inu’. But in the mid of 2018, the coin started to prove itself as one of the most powerful growing digital assets. The coin had a major rise in that period and made a huge impact among the crypto users as well as the crypto investors. After the announcement of ‘Dogethereum bridge’, Dogecoin saw a major surge and this launch set up a platform for the coin to step an authority in the market.
From about a month know Dogecoin (DOGE) has been gradually decreasing and this has hurt Dogecoin’s performance in the market. Today (19th Nov 2018) most of the market is suffering from the bear market and most of the coins are fairly following the bear trend. Whereas Dogecoin has been one of the least affected coins in the market and this might be due to Poloniex adding DOGE/USDC pair on their exchange. This will be a huge booster for DOGE as the coin needs such little push-ups to get back on the rising track.
Dogecoin has its way very much clear for the future as they highly dependent upon their Dogethereum bridge that is soon to be officially launched. But before that happens, the meme coin cannot sit back a lot because the competition is very strong in the market. As we have seen coins like Electroneum (ETN), which have shown that they are here to change the world. Dogecoin has a lot of competition around, so the coin needs to go on with little by little steps and remain in the ranks of big coins in the market.
Dogecoin is also set to launch Indie game very soon, this will be one of the steps forward for DOGE to grow its adoption and will add an extra bit of variation to the network of DOGE, increasing the demand of coin in the market because online gaming is one of modern day’s biggest market. Other than that, Dogecoin is a bit different from other digital assets, as it has brought a new step further in cryptocurrency by fundraising to help needy cases. This has helped Dogecoin grow at a better pace and is an important part of DOGE’s growth.
At the moment, most of top crypto’s are down by an average rate of –8% to –9% in the last 24 hours. The downfall of Bitcoin in last seven days have significantly affected the other altcoins. At the time of writing, Dogecoin (DOGE) was trading at a price of $0.0025 USD with a market cap of almost $300 million. In the last 24 hours period DOGE was following the bear trend of the market with up to –1.5% down, but when compared to BTC it was moving up with a rate of 4%. Dogecoin’s resistance to such a bear market shows that Dogecoin is surely a future prospect for the cryptocurrency and we could see DOGE rising back soon in a bull market.