In one of the most recent bull runs, Dogecoin (DOGE) shifted its previously held 22nd spot in the official ranking list thus acquiring the status of the 17th largest crypto in the market, despite sluggish trends in the market.
On September 12th, DOGE is still residing among the top 20 crew, currently taking the 19th place after the latest wave of drops.
However, the momentum revolving around Dogecoin (DOGE) regarding the demo presentation of Dogethereum that went successfully several days ago having Dogecoin collecting over 120% in a week-long rebound is still here, making DOGE one of the coins with highest trading volumes.
This case shows that Dogecoin is ready for the next phase of adoption, also preparing Dogethereum for the official launch in the following months and seeing DOGE being actually used for transacting instead of being sold off.
At the frequent or more benevolent pace of growth, is it possible to see Dogecoin on the Top 10 list in 2019?
Dogecoin (DOGE) and the Increased Interest in the Market
Dogecoin has shown an amazing progress in the market during the past few weeks as it went spiking up against the fiat for a prolonged time and despite the crisis in the market, that way collecting over 120% of gains in the course of a single week.
Moreover, Dogecoin is still showing increased trading volumes without major declines despite the most recent drop on September 12th, now making DOGE the 19th best currency, previously jumping up to the spot number 17th.
The increased interest in Dogecoin is obviously making holders more enthusiastic, so it is rather the case that DOGE is being actually spent as a way of a fast and cheap payment method than being traded with.
To support the theory that DOGE is being rather used as a way of paying for goods than services, than having DOGE traded for fiat on the crypto market, there are dozens of stores, online and physical that now accept DOGE, probably driven by the fact that Dogecoin was ridiculed at start only to turn out to be one of the major players in the cryptoverse.
At the same time, as Dogecoin dev team has announced the demo of Dogethereum, a bridge between Ethereum and Dogecoin chain that was originally planned as a fork to Dogethereum (DOGX), the value of DOGE went up consequently.
Some skeptics doubted that DOGE would soon crash as it was said that the price pump was a result of a misconception of what Dogethereum actually represents.
However, it seems that the general truth is different as DOGE kept rising from being ranked as the 22nd crypto to getting a “promotion” in form of becoming the 17th largest cryptocurrency.
The massive momentum revolving around Dogecoin (DOGE) is proposing a case scenario where DOGE could soon reach the list of top 10 during the following year in case it continues to grow at the same pace of growth despite the frequent lows in the market.
However, in order for DOGE to take a close look at the top ten list, it has to come to the point where DOGE is actually used and adopted in mass.
DOGE Coin is Already Being Used: On the Road to Dogecoin Mass Adoption
For most crypto assets, the ultimate goal is to reach the point of having their currency massively adopted and used in real-life use cases, which simultaneously describes a successful blockchain startup/foundation.
Although Dogecoin is usually described as a meme coin, or fun coin, or in some cases even being addressed as “joke coin”, DOGE is already being used as a payment method, being adopted worldwide by small and medium businesses that believe in the future of Dogecoin as a currency rather than a method of spinning some profit.
The increased trading volumes of Dogecoin despite the hype around it slowly disappearing after the live demo of Dogethereum was presented during the last week on September 5th, shows that Doge is here for long-term benefits.
Given the fact that Dogecoin is made to be an inflationary coin, proving at least 5% of gains on year to year basis, the factor of stability in the market is definitely present, showing that DOGE makes up for more than a “joke coin” or “fun coin”.
Dogecoin can already be spent eGifter, AllGamer.net, Bitcoin Shop, Iron Rail Diner, SuchList, Stuffcoins, Strange Donuts, GamersHeat, Mineral Pharmacy, Nodex, GraphixDesigner, and dozens of more online and physical stores that have made DOGE available as a payment method.
In case DOGE team is able to take the most out of this practical use case, Dogecoin (DOGE) could be easily seen coming closer to currencies like TRON and IOTA when it comes to market cap rankings.