As this rather annoying weekend comes to an end, many traders remain hopeful cryptocurrency markets will rebound pretty quickly. Although there is some positive momentum brewing as of right now, none of the top markets are in the green yet. It seems the first market to do so may be Dogecoin, as its gains over Bitcoin start to look promising.
Dogecoin Price Makes an Effort
None of the top cryptocurrencies note any real momentum right now. Although the hourly chart looks somewhat decent, the real gains remain hard to come by. No currency in the top 20 is going up in USD value, primarily because Bitcoin keeps dragging everything else down for the foreseeable future.
In the past few hours, Dogecoin has become the more stable currency yet again. Although it too lost over 5% in USD value, it has gained nearly 4% on Bitcoin. It is this latter aspect which is well worth paying attention to right now. Prior to altcoins rebounding, they will start reclaiming lost ground in BTC value, So far, Dogecoin is doing exactly that.
On social media, most active talks and discussions pertaining to cryptocurrency have seemingly petered out. Dogecoin is still generating a buzz, primarily because of the Dogecoin Christmas contest trying to get more people excited about cryptocurrency. Community efforts like these further highlight why Dogecoin will always remain a relevant altcoin, unlike other projects.
Dogecoin Christmas Contest (20.000 Doge) via /r/dogecoin https://t.co/zSRokzmD3p hot 🔥 in #reddit #dogecoin #doge #crypto much wow!
— Domain Address Info (@DomainAddress4u) November 25, 2018
As guasnasimin explains, cryptocurrency is not about magic, hype, or pump efforts. Instead, the projects which have a legitimate following and are actively used will ultimately succeed. Dogecoin remains one of the most successful cryptocurrency projects to date, as its network is filled with real-world transactions.
There is no magic in crypto, its all about spread ur project n get many adopters #dogecoin #bitcoin #decentralized #ifx #oryx #dev #infinexcoin #oryxcoin #deviantcoin #mining #trading #staking #masternodes #cryptoproject
— jhony polaris (@polarisjhony) November 25, 2018
Last but not least, it is critical to keep the hope alive during these troublesome times in the cryptocurrency industry as XVGHulk illustrates, there is no reason for despair whatsoever, as things will eventually turn around again. How that will pan out for Dogecoin exactly, remains to be seen, but there is no reason to doubt DOGE is here to stay.
https://twitter.com/XVGhulk/status/1066623826593816576
All of the current signs point toward the cryptocurrency markets seeing some sort of bounce early next week. Whether or not things will play out along those lines, is something else entirely. After all, there is a good chance the markets will see more bearish pressure as well, as that would be a logical continuation of this week’s trend.
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.
Image(s): Shutterstock.com