As the overarching cryptocurrency market slump continues, there is a growing demand for assets which are perceived at stable Although stablecoins would usually fit that bill, Dogecoin also makes an interesting case for itself. Under the current conditions, it is also losing a bit of value, although in far less spectacular fashion compared to other markets.
Dogecoin Price Momentum Sours Slightly
It has always been difficult for alternative currencies to escape Bitcoin’s gravitational pull. The year 2018 has illustrated that point virtually every other day. While Dogecoin usually does its own thing, it too is losing a bit of value in the US Dollar department. That is not entirely abnormal, although it seems unlikely a dip below $0.0015 will occur anytime soon.
Over the past 24 hours, the Dogecoin price has dropped to just above $0.002. That is not necessarily bothersome, as the altcoin has maintained this level for quite some time now. However, the 2.1% decline in USD value is a bit worrisome. At the same time, the DOGE/BTC ratio increased by 2%, as the altcoin has retaken the 62 Satoshi level once again.
A very peculiar topic is emerging on Twitter as of right now. It seems someone is spreading rumors regarding Dogecoin and Litecoin merging into one project. That will likely never happen although it is possible to merge-mine both currencies through select mining pools. As such, there is some minor truth to this “merge”, albeit not of a nature most people would expect.
It would also appear there is a new Bitcoin ATM which supports Dogecoin, as well as other alternative currencies. Having more exposure through these machines can raise overall awareness of DOGE over the coming years. A development like this will not have any impact on the overall Dogecoin price, yet it is still a feather in the cap of the altcoin regardless.
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There is also some minor bad news for some Dogecoin enthusiasts. It would appear there may be some issues with the Dogechain online wallet service. Although this issue is rather limited in nature, one can only hope someone will be able to help this user out as soon as possible.
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With all of these developments taking place behind the scenes, it will be interesting to see how well the Dogecoin value holds up. The increase in Satoshi value is something plenty of traders will be quite happy with. It does not result in USD-based gains at this time, although there is still some good money to be made regardless.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.