It has been another rather unruly day for all cryptocurrencies. Further losses for Bitcoin have taken their toll on most of the other currencies and assets on the market as well. In the case of Dogecoin not much has changed, although the altcoin has successfully surpassed the 60 Satoshi level once again.
Dogecoin Price Remains Stable For Another Day
While this most recent price drop was anything but surprising, it would seem the momentum may start to grow worse as time progresses. The Bitcoin price drop to $3,400 is worrisome enough, but no one really knows where the bottom is at this point. That usually doesn’t bode well for any of the altcoins on the market either, which is only to be expected. One notable exception is Dogecoin, a currency that successfully bucks any trend affecting Bitcoin these days.
Over the past 24 hours, there hasn’t been much Dogecoin price movement where the USD value is concerned. Its stability near the $0002 level has been remarkable so far. What is more interesting, however, is how the DOGE/BTC ratio has been on the rise again. A minor 1.9% gain has resulted in surpassing the 60 Satoshi level, which is a big step forward for this altcoin.
It would appear there are some interesting discussions taking place on Twitter when it comes to Dogecoin. Crypto Strange puts an interesting spotlight on the current cryptocurrency industry troubles. In his opinion, now is a time to consider going all-in on Dogecoin again. Although there will not be a Wolong to push the market higher, the altcoin hasn’t lost its appeal either.
What are we thinking? Just go all in on #dogecoin like its 2014 again?
— Crypto Strange (@cryptostrange) December 11, 2018
The tweet by DogecoinMultisig is also rather interesting. Not only is it concise and to the point, but it also speaks a truth no one can really refute. Dogecoin is being used far more than most other cryptocurrencies on the market today. It also seems to be a currency people have liked and may continue to like for some time. That alone can be sufficient to achieve great success in the long run.
— DogecoinMultisig (@DogecoinMulti) December 11, 2018
When looking at the Dogecoin price from a technical point of view, the current situation is rather interesting. Dogecoin seemingly has a lot of room to move up even further, after successfully crossing the MACD on the daily chart. While that usually signals bullish momentum, it remains to be seen if that will indeed be the case. Anything is possible under the current circumstances.
$DOGE: MACD finally crossed on daily & we're seeing bullish reaction! Hopefully it's sustainable. Targets still valid.
— Eun Young Park (@jp_corredor) December 11, 2018
When taking all of these factors into consideration, it is rather apparent the Dogecoin value can easily swing in either direction. Its stability in USD value has been well-noted to date, and the current gains over Bitcoin are pretty interesting to keep an eye on. Gaining enough on BTC value to offset the minor USD loss will take some effort, and may not necessarily result in any real uptrend.
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.