Given the uneasy market momentum affecting all cryptocurrencies and tokens, the coming days may not turn out to be overly pleasant. For fans of the Dogecoin price, things are not necessarily looking that bad. In fact, there is a chance DOGE may be the first currency to note any real gains besides Binance Coin. A more than surprising development at this time.
Dogecoin Price Retains its Value
It is not uncommon for Dogecoin to buck the overall market trend. Although one would expect Dogecoin to follow Bitcoin’s example in terms of valuation, that is not always the case. In fact, there have been multiple instances where this altcoin seems to do its own thing regardless of the overall trend. Today is such a day, as Dogecoin is successfully retaining its value as of right now.
To put this in perspective, the past 24 hours have been somewhat kind on the Dogecoin price. Following a status quo in USD value and a 1.62% gain in DOGE/BTC, things are not looking too bad. Although the return to $0.002 will not necessarily occur today, one has to keep in mind to retaking of the 56 Satoshi level is quite interesting in its own right. Such a development seemed nearly impossible just a few days ago.
Shibatoshi Dogomoto would like to remind people of how Dogecoin has been quite prominent in terms of social media tipping. In fact, it has been in place well before any real Twitter tip bot for Bitcoin is introduced, with the exception of ChangeTip. As such, Dogecoin is a trendsetter in its own regard, even though these initiatives have gone by largely unnoticed, for some reason.
Shibes have been tipping #Dogecoin for years on @reddit and @Twitter. There was also a Bitcoin version called @ChangeTip but I think it's dead now.
— Shibatoshi Dogomoto 🐕 (@CEOofDogecoin) February 6, 2019
An interesting Dogecoin-related discussion is taking place on Reddit as of right now. A lot of exchanges allow users to buy, sell, and trade Dogecoin these days. However, finding the “best” platform of them all is a different matter altogether. So far, the replies are all pretty interesting, even though it seems Kraken is getting some unexpected love from the community right now.
What exchange services are you using to buy more Doge? via /r/dogecoin https://t.co/kOp0UJxCB1 hot 🔥 in #reddit #dogecoin #doge #crypto much wow!
— Domain Address Info (@DomainAddress4u) February 5, 2019
One thing that is slightly worrisome is how there is still no real update regarding the Dogecoin-ERC20 bridge. Although this project was announced months ago, it seems the overall communication regarding updates has been quite slow, all things considered. Solving this problem may prove to be crucial, albeit no one knows for sure how far the project has come ever since.
Earth calling Doge-Ethereum Bridge team, any moon sightings. #Dogecoin pic.twitter.com/hfPAn7IJYF
— mj (@silkmarketindex) February 5, 2019
For the time being, it is pretty intriguing to see Dogecoin buck the overall market trend. Although this might not necessarily remain in place for much longer, one has to keep in mind this altcoin tends to do things in a very different manner from others. As such, the coming hours may prove to be rather interesting for many different reasons.
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.