The unpredictable crypto verse has seen a lot of surprises in the months of August and September with small undervalued coins outdoing the market leaders. Dogecoin (DOGE), a coin that has been dormant for almost two years has become the investor hotspot. Created jokingly as a tipping and gifting coin four years ago, the coin resurfaced a month ago and has outperformed other coins in the market.
After its launch in 2015, many DOGE enthusiasts thought it will be an all-time hit after supporting the Jamaican team to the winter Olympic Games, supporting several water projects in east Africa and sponsoring John Wise, a NASCAR driver. This created awareness before the coin hype ebbing away on to resurface two months ago.
Dogecoin (DOGE) Hit the Market Running
With the project team inactivity for better part of 2018, the recent announcement of the Dogethereum Bridge has seen the crypto market focus its attention to the DOGE ecosystem. The coin surprised many when its price surged by a whopping 150% between 29th August and September 1st moving from $0.003 to $0.007.
The DOGE price surge saw the coin valuation surge by over 50% from the previous 300bilion to over 700billion. This sent the coin to rank among the 20 top valuable coins by market cap. Interestingly, the month of august saw a huge increase in DOGE addresses and the increase in transactions affected the cost of transactions which surged to $0.01. So, why is the coin performing well when other major coins are dipping?
Dogecoin (DOGE) Adoption by the “Wannabe Crypto Pros”
The world has seen how cryptocurrencies are transforming lives and new investors are scavenging for low priced but promising coins to share part of the crypto pie boom. DOGE value growth has come at a time when the investor confidence is at its lowest and inexperienced traders have flooded the Dogecoin ecosystem to start building their crypto portfolios.
Investing in the blockchain industry has always remained risky and low price coins are being used by many as the testing ground and DOGE growth in a bearish market has presented the right opportunity for the beginner trader. The DOGE value is low but offers a better value proposition and the risks are low.
Dogecoin (DOGE) becoming a Safe Haven for the Millennials
Dogecoin articulate route to market choice has endeared many millennials and that is where the crypto spent potential lies. The Listing of DOGE on the Robinhood retail marketplace has seen more users embrace the simplicity of the coin and with ease of access through their mobiles.
The Robinhood system offers the convenience the millennials have been searching for. On the other hand, the minimal transaction fees have also given the coin an upper hand in its uptake. The mobile boom and its compatibility with the various wallets is also a plus for the coin.
Dogecoin (DOGE) Recognition by Major Market Movers
Dogecoin springing back to live has seen major market players increase their interest and one of the notable is Yahoo! Finance. The inclusion of the coin on the Yahoo! Finance family has seen more than 70 million additional unique visitors to the site and this is a huge plus for Dogecoin global visibility.
Change.org has also noted the potential behind the joke digital asset and has been running a listing campaign for DOGE on the Amazon e-commerce market place as one of the payment vehicles. If this goes through, DOGE value, visibility and price will sent it to the moon.
Dogecoin (DOGE) additional trading Avenues and Current Price
The past two months have changes the entire Dogecoin outlook and perception and it is up to the team behind the outfit to keep the fire burning. The entry into the fiat transactions is a huge gateway for increased DOGE market activity and this is a huge plus for its market stability.
With the market getting back its stability, DOGE price is down by 0.53% to the dollar and 0.23% to Bitcoin to trade at $0.006191. this could be a short term set back and once the Dogethereum Bridge testing is over, the coins is set to be back on its winning ways before the end of Q4.