The prevailing bullish run by the Dogecoin DOGE is a new crypto market phenomenal after altcoins in the past have shown the tendency to follow the price action of Bitcoin. Dogecoin has been in the green zone for the better part of August and September, a period when the crypto bloodbath took place pushing large coins like Ethereum (ETH) to half their price in mid-August.
Meanwhile Dogecoin is still showing bullish candlesticks with an increase of 0.36% in its price for the last 24 hours. The gain value by the DOGE crypto coin has seen it achieve new highs since the beginning of 2018. An altcoin that launched at $0.006 had scaled to $0.0069 although this later reduced to $0.0063 as of press date. The project continues to make strides in market cap having maintained the top 20 position for a significant period now. What many regarded as a joke cryptocurrency is now the talk of the market!
The Dogecoin project traces its humble beginning to the year 2014, a period when most crypto coins were still in heavy development. Four years later, DOGE which seemed as a sure flop given its ‘unserious’ nature is making peer cryptocurrencies lose users to its Dogecoin blockchain platform. Dogecoin is slowly proving its relevance in today’s ‘Internet tipping’ platforms.
Dogecoin market stats are quite impressive, according to coinmarketcap; the digital currency enjoys a $732 million share of the crypto market. This is roughly 0.3710% of the total cryptocurrency worth in all coin exchanges today.
What is pushing the Dogecoin bulls?
With the ongoing developments in crypto, one would wonder why the DOGE coin is hotter than the rest for crypto investors at the moment. Well, this can be attributed to a couple factors according to the crypto news sources and views given by analysts on the DOGE price action.
For starters, investors are hunting for undervalued digital assets for them to reap larger cumulative benefits in case of a price correction. DOGE provides the perfect chance for anyone to own a crypto coin given its affordability. Furthermore, the release of the Dogethereum bridge convinced most of the crypto community that DOGE is indeed at a better fundamental position than it was a month ago. In addition, news sources have hyped Dogecoin continuously for the past fortnight making it a common name in crypto.
Dogecoin’s ability to serve the millennials needs is also making it a popular cryptocurrency given most blockchain & crypto savvy fellows belong to this group. Its competitive rates cannot be ignored in the contribution towards the coin’s community membership right now. Indeed, DOGE can argue its relevance supported by market facts and projections if it maintains the current pace in adoption.
DOGE is Not Getting listed on Binance anytime soon
Dogecoin’s good prospects had the crypto community speculating a Binance listing, something that would push the coin’s adoption and value up. However, it seems that this will not be happening anytime soon after one of the project’s founders denied such claims will materialize soon. According to the statement on reddit, a Binance listing would be binding to Dogecoin’s activities as the coin exchange expects Dogecoin lead developers to sign some agreements. This is not to say that Dogecoin is not easily available, the crypto coin is listed in over 15 coin exchanges right now.
Final DOGE Sentiments
Dogecoin is gradually breaking its targets for a coin whose initial purpose was small transactions. The DOGE altcoin is today handling Litecoin-like transaction volumes per day. Its fundamental value is starting to attract the target market slowly and is a probable high ROI HODL for the next two years.