As all cryptocurrencies seemingly enjoy a positive spell of momentum right now, interesting things are bound to happen. Even the Dogecoin price is noting some decent gains for a change, which is pretty interesting all things considered. With this new momentum in place, there is a good chance this run will continue for at least a few more hours.
Positive Dogecoin Price Momentum is Promising
When Bitcoin turns semi-bullish, all other markets will follow suit pretty quickly. That is simply how the cryptocurrency markets work at this time, primarily because everything relies on Bitcoin these days. Dogecoin has often been such an exception, although it seems things are a bit different this time around. To be more specific, it required positive BTC momentum to note any real Dogecoin gains in the process.
Over the past 24 hours, the Dogecoin price has noted a 1.3% increase in USD value. This is not spectacular by any means, but one has to acknowledge this recent uptrend is a lot better than seeing another minor collapse. In terms of DOGE/BTC, things are not looking too impressive, although the 0.25% increase is still interesting in its own regard.
Contrary to what one might expect, there is no reason for a DOGE value increase right now. The biggest news is how there is a new shirt on Etsy which draw some inspiration from Game of Thrones. Representatives of House Doge may want to pay special attention to this addition, although it will not necessarily influence the price in any meaningful manner.
Winter is coming and so is the Final Season of Game of Thrones!
— Garfunkel Art (@GarfunkelArt) February 8, 2019
Even though the recent launch of BitTorrent Token is pretty interesting, it seems to spawn some unsavory debates as well. Galathian is drawing a comparison between Dogecoin and BTT, and even goes as far as claiming how DOGE is a “shit coin”. While everyone is entitled to their opinion, statements like these show there is still plenty of work to be done in this industry.
— Galathian (@don2seyer) February 8, 2019
Last but not least, the current value may not necessarily seem too enticing to most people. However, there is an arbitrage gap traders can take advantage of for some extra small profits. Dogecoin isn’t maintaining the same value between LiveCoin and Koinim, which makes this trade very straightforward first and foremost. Exploring this option yields a minor profit, but it is still better than nothing.
— Arbing Tool (@ArbingTool) February 8, 2019
All of the circumstances seem to indicate things will get pretty interesting moving forward. Although the Dogecoin gains are pretty minor at this point, one has to keep in mind these are still the early days of a potential uptrend. After all, it would not be the first time a minor push would be converted into a net loss fairly quickly. For now, caution remains advised, although there is room for minor optimism as well.
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.