The recent Dogecoin (DOGE) gains appear to be easing off which is typical of a coin that goes dormant a will. The coin surprised other major coins in august and early September as the only market player that recorded gains while the rest were on a free fall mission. However, the easing of the momentum has kept investor interest still glued on the coin.
Apart from a few cases where the community engaged in charity work, the coin has been silent and their GitHub activities are zero for the last one year. The growth of the coin has remained natural without any social hype, pump and dump or manipulation. So where is the Dogecoin (DOGE) staying power coming from?
Dogecoin (DOGE) Listing on Yahoo Finance
The Dogecoin infrastructure is very robust and a little visibility can take the coin places. Its addition to the Yahoo Finance portfolio has shown the hidden potential behind the digital assets the move has increased the integrity of the coin and investors’ confidence is high compared to 6 months ago.
Being listed alongside LTC, BTC and ETH has been a major boost for the coin given there other top ten valuable coins that have not been included in the listing. Trading on Yahoo Finance does not only give the coin added visibility but also creates demand for the DOGE value to grow.
DOGE, through the YF gateway will be exposed to over 165million active users already on the platform. The listing will also expose the digital asset to another digital asset hub, TradeIt which is a strong YF partners and integrated into the Coinbase ecosystem
Sticking to the Original Dogecoin Vision
Dogecoin was created as a simple and yet effective wat to tip and gift social network goers to reward their activity whilst increasing its adoption. However, with the dynamism of the new technology, the concept has gathered more real world user cases that the coin is ripe to enter into the e-commerce sector and strong, reliable and fast form of making payments online.
An ongoing community initiative to petition the coin’s inclusion in the list of official payment assets on Amazon through Change.org has seen increased DOGE popularity especially in countries with Amazon restrictions. This has instilled new hopes among DOGE users and has pushed to demand for the coin to stay in the green trading territories longer than many thought.
This initiative has seen the coins transactions increase in the month of August which translated into more active addresses. However, the hype seems to be headed south at the moment but all is not lost for another spike before the end of Q4. With increased economic activities on the network, DOGE might soon the “undervalued” tag drop.
The Dogethereum Matrix
The entry of a bridge between the Dogecoin ecosystem and that of Ethereum has had a huge impact of DOGE comeback. Dogethereum is seen as a game changer in online payments and has earned the little know coin respect among other major players.
Cross-chain payments have been elusive in the market and the success of the bridge will see demand for DOGE rise to a high and it will tag along the price and value of the coin. The entry of smart contract to the outfit has been received positively by the community and Dogecoin relevance in the market appears to have been strengthened and more staying power added.
The renewed enthusiasm on the platform has seen the coin hold on to the 20th position by market cap longer than its critics though. At the time of reporting, the Dogecoin (DOGE) price was down by 0.79% to the dollar in market showing mixed movements across all coins. The price stands at $0.005679 with positive signs of a spike back to the green territory in few days to come.