When all cryptocurrency markets turn bearish all of a sudden, people often look at Dogecoin. Whether that is a good thing or not remains up for debate. Under these circumstances, the Dogecoin price is holding its own somewhat. Despite minor losses in USD and BTC value, it would appear the $0.002 level will hold after all.
Dogecoin Price Stays the Course
It is never fun to see all of the cryptocurrency markets in so much peril all of a sudden. Although it was a matter of time until a correction of sorts kicked in, it appears a lot of markets are struggling to keep the momentum going right now. Dogecoin is a positive exception in this regard, although it too is dealing with bearish pressure of its own.
In the past few hours, it would appear the Dogecoin price has lost roughly 2.2% of its USD value. There is also the 1.2% setback in DOGE/BTC which is perhaps more worrisome. One DOGE is currently priced at 51 Satoshi, yet there is a genuine chance this level will not hold for much longer.
Cryptocurrency is a very interesting business, but one that is often seen from the wrong perspective. When it comes to Dogecoin, very few people own over 100,000 DOGE at this time. That is very surprising, especially when considering how this altcoin has never been too expensive to begin with. The number of people owning 1 million or more represents 0.26% of all DOGE wallets.
— Jan Hvizdak (@realJanHvizdak) February 21, 2019
When the price doesn’t want to work in people’s favor, memes can often save the day. If there is any cryptocurrency which can generate plenty of memes, it is none other than Dogecoin. Crypto and Hot Rods shares a very interesting one pertaining to mining this altcoin. It will undoubtedly be appreciated by the community during these bleak times.
— Crypto and Hot Rods (@Nemisist2) February 21, 2019
A second meme comes in the form of just a happy dog on the swing. One wouldn’t necessarily assume dogs like to be on a swing, but it appears this one doesn’t mind it in the slightest. As such, this meme will put a smile on people’s faces which is all one can ask for at this time.
— a_VA. 💎 (@ava77sang) February 21, 2019
All of these signs point toward a very interesting upcoming weekend for all cryptocurrencies. Although one never knows how things will play out, Dogecoin is one of those markets which always remains in motion first and foremost. As such, the 50 Satoshi level and the $0.002 support will prove crucial in the hours and days to come. Whether either of them can hold is impossible to predict.
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.