It is no longer a secret that even the market leading digital coins are scared of the Dogecoin (DOGE) price surge in an environment that traders are panicking and existing to the traditional fiat currency. Coming from nowhere to become the 20th most valuable asset in the crypto verse is no mean feat in a market invested by whales with the weight to turn around the market downtrend.
The last two months have been the worst nightmare for any crypto investor and a success story for the already popular meme coin. At first, traders were being very cautious about DOGE price surge with mixed feelings that is could be another liquidity pump but with the daily volumes hitting an average high of 90million, the price popularity is not ebbing away anytime soon. So, what the secret behind Dogecoin (DOGE)?
Dogecoin (DOGE) Micro-Payment Popularity
Dogecoin market entry was seen as a joke but the previous inroads to be ranked among the best coins in the crypto verse has made even mainstream coins look like the real jokers. Dogecoin seriousness is based on its transactional capabilities up to the micro level; area bigger coins have failed.
The Dogecoin community has turned the gifting and tipping to become their unifying factor to support their coin. Despite its low price and holding other factors constant, DOGE transaction volumes have surpassed that of market leaders more than three times. To add on to it, the DOGE platform has been able to process $134million worth of assets through its ecosystem.
Dogecoin (DOGE) Bear Market Adoption Leadership
The last few days have seen the Dogecoin platform register over 93,000 new addresses and this is a good sign for a coin that is headed the mass adoption direction. The current price stability also indicates that these new addresses are high quality, functional and working.
Another fact is that those panicking from the oversold coins and are not ready to exit to the fiat world are headed to the DOGE safe haven. Going by Bitcoin market dominance now standing at 56.2% and still rising, the investor panic appears to either go the fiat way or to coins that are gaining traction with Dogecoin being the most consistent.
Dogecoin Addition to Yahoo Finance
Yahoo Finance is a respected site and addition of DOGE is a major boost in terms of visibility, investor confidence and trust. However, the deal will be facilitated by Yahoo Finance partner, TradeIt. This will open a new route to the market for the DOGE coin since TradeIt supports iOS systems by simply downloading and installing the app.
The increased visibility and micro-transaction capabilities have seen the coin being fronted by Change.org to be listed among Amazon official payment coins. If the deal sails through, Dogecoin will no longer be jokers’ club coin but a real utility digital asset. The petition to Amazon appears like the summary of the secrets behind Dogecoin and reads in part:
“Amazon.com being a leader in innovation should accept Dogecoin, as a form of payment. Dogecoin is fast, cheap, and stable in value. It is stable in value, has the lowest transaction fee over other major coins, has a huge supply of coins and has very large, active community with on-going development.”
Dogecoin (DOGE) Price Wrap Up
As DOGE evolves from the joke to the real crypto world and by getting noticed by major exchanges, it continues to trade in the green zone with the past 24 hours gaining 1.28% and 1.73% to the dollar and Bitcoin respectively.
Just like Litecoin and Bitcoin, Dogecoin is a peer-to-peer payment system that has never shifted from the Nakamoto vision. As the bearish market continues, both Dogecoin lovers and haters are keeping their fingers crossed while other coins and tokens are still swallowing their pride.