Dogecoin (DOGE) was enjoying a massive momentum in the market with the previous hype revolving around Dogethereum that was first supposed to represent a direct fork to Dogecoin network with the plan of creating a brand new currency just as it was the case with Ethereum and Ethereum Classic fork due to the DAO faulty.
Later on, Dogethereum turned out to be a sampling bridge between Dogecoin network and Ethereum platform, allowing for cross-border transactions between the two platforms in form of DOGE and ETH exchanges, further showcasing a successful demo of the bridge.
As this case influenced the price of DOGE further on and before the initial demo test of Dogethereum, DOGE managed to gather some amazing reviews on its technological potential when it comes to the future developments, consequently affecting its price in the market and bringing it up to the top 20 list of currencies.
Moreover, DOGE got added to Yahoo Finance, which further sent it to the moon by gaining more friction against the fiat. However, the opinion in DOGE is still divided as some crypto enthusiasts deemed it as a pump and dump coin, also hinting that DOGE is dead despite the latest momentum in the market.
So, what is actually up with Dogecoin outside the price hype: is Dogecoin dead or stepping back for the next big jump?
Dogecoin: Between the Github Activity and the Price Hype
As we could see Dogecoin spiking up with a massive price boost in form of a hype regarding the Dogethereum “confusion” where a part of the community seemed to be unaware of the fact that there are two different Dogethereum projects, of which only one, the Dogethereum bridge, survived in the end.
During this time, DOGE managed to go up by nearly 110% against the dollar in the last two months, alongside with rising up by 12% on the monthly level with all ups and downs summed up till October 7th.
However, since the hype is slowly declining, DOGE got caught up with the negative trends in the market as well, so we can see it dropping by over -3% and over -4% on the weekly and biweekly charts.
Once the currency showed its “mortality” despite the price pump in form of the mentioned hype questions on the matter “is Dogecoin dead?” reappeared with the attention being transferred to the Git Hub repository of Dogecoin project.
When you take a look at the Git Hub activity chart of Dogecoin, the latest release was added during the last week of September, which was at the time of this writing approximately two weeks ago.
The last release in the Git Hub repository was 1.14 alpha 3, which is at the same time the fourth release of Dogecoin Core, with the pull request to merge the fixes so that the entire network could update to the latest source code. The fixes are said to include the changes from two different versions of Bitcoin Core, 0.14.0 and 0.14.3.
That being said since the value of a project is also described in activities of dev teams one could say that DOGE is rather undead than dead.
Although on the YTD level, Dogecoin project is not the most active among its peers, there are 10 different devs pushing 0 commits with excluded merges for the master branch, alongside with having 73 other commits on combined branches during the course of the last 4 weeks.
However, the master branch counts 0 commits, 0 changed files, and 0 deletions.
Dogecoin: Is DOGE Preparing for the Next Big Jump?
Dogecoin started off years back with a sole purpose of representing a blockchain-based currency that would enable easy tipping and incentivizing through social media, as well as providing a simple and prompt, while also a cost-effective method of payment with the idea that 1DOGE equals 1DOGE, just like it is the case with the American dollar.
Moreover, Dogecoin is not a deflationary coin, which means that it is designed to acquire a strong dose of stability over the time spent in the market as an actively traded asset. This case alone can play a meaningful role in the further adoption and attention given to DOGE.
The next big project for Dogecoin, as acknowledged by far, should be a live working version of Dogethereum bridge, of which we have only seen a live demo version as showcased a month ago on September 5th.
The dev team stated on this occasion that they will be dedicating a significant amount of time to this project, adding that the live version shouldn’t be released during the current year of 2018, without providing the exact time of the release.
For now, with Yahoo Finances adding DOGE with Litecoin (LTC), Bitcoin (BTC), and Ethereum (ETH), Dogecoin can enjoy the perks of Yahoo Finance portfolio addition, which should further provide it the needed boost towards mass adoption of Dogecoin (DOGE), which can already be used in numerous online and physical stores as a method of payment by individual initiatives.