Home / Crypto Currency / Dogecoin Price Turns Bullish and Surpasses 60 Satoshi

Dogecoin Price Turns Bullish and Surpasses 60 Satoshi

It has proven to be an interesting day in the world of digital assets and cryptocurrencies. Unsurprisingly, there is more bearish pressure on Bitcoin, which drags all other markets in the red as well. Dogecoin is, once again, an exception in this regard, as it notes gains in both USD and BTC value. A remarkable trend which further confirms Dogecoin is the coin to watch right now.

Dogecoin Price Trend Turns Bullish

No one should be surprised to see the value of Dogecoin rise when Bitcoin keeps turning bearish every other day. This trend has been apparent for most of 2018, and there is no reason to expect anything to change in this department. Whereas Bitcoin loses value and all top altcoins go down with, Dogecoin simply does its own thing at all times.

Over the past 24 hours, there has been a 5% increase in Dogecoin’s USD value. Additionally, the altcoin has gained over 12% on Bitcoin, which allows it to note these USD gains in quick succession. It is also the first time in a while the Dogecoin value surpasses 60 Satoshi. For now, it is difficult to predict how long this level will be maintained.

When looking at social media, it would appear some interesting developments are taking place within the Dogecoin ecosystem. Unlike other altcoins, Dogecoin hasn’t been well-known for multisig solutions. That situation is now slowly coming to change, courtesy of Dogecoinmultisig. Always do your own research when new services launch, yet it is an interesting idea regardless.

It is also interesting to note how Dogecoin has been a far more stable currency compared to other cryptocurrencies. So much even that it almost looks like a stablecoin to some. It is a bit of a misnomer for DOGE, albeit one can easily see where that sentiment is coming from. It simply remains relevant and stable while other markets continue to crumble.

An interesting topic is raised by Randicus. Currencies with an unlimited maximum supply are subject to inflation. In the case of Dogecoin, that rate of inflation is often ridiculed and considered to be a hindrance. Even so, it is not that big of a deal when compared to some other projects. As such, it is always important to put things into the right perspective.

The big question is how long Dogecoin can keep this uptrend in place. Its low trading volume is a cause for concern, although one could argue all currencies see far less trading volume on this Monday. As such, the Dogecoin price should hold its own with relative ease, albeit the battle for support at 60 Satoshi will be an interesting one to watch.

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.

Read more

Check Also

Bitcoin Bomb Threats, Romanian Fraud Arrests, Bitcoin Cash Continues to Plummet, Coinbase Integrates Paypal and More: This Week in Crypto

Several Notches Above Ransomware An extortion scheme which sought to terrorize people into paying over BTC made global headlines over the course of the week. The threats happened worldwide, at a minimum being reported in the US, New Zealand, and Australia. The bomb threats demanded $20,000 in BTC in exchange for the terrorists to “give The post Bitcoin Bomb Threats, Romanian Fraud Arrests, Bitcoin Cash Continues to Plummet, Coinbase Integrates Paypal and More: This Week in Crypto appeared first on CCN

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Disclaimer: Trading in bitcoins or other digital currencies carries a high level of risk and can result in the total loss of the invested capital. theonlinetech.org does not provide investment advice, but only reflects its own opinion. Please ensure that if you trade or invest in bitcoins or other digital currencies (for example, investing in cloud mining services) you fully understand the risks involved! Please also note that some external links are affiliate links.