The Dogecoin community was treated to fairytale ride at the end of August as the altcoin ran riot in the cryptocurrency market, raking double digits in a matter of days.
Dogecoin’s impressive performance was halted in the early days of September by violent sell-offs which have continued to drag the altcoin south even to this moment.
DOGE’s poor performance in the market over the last seven weeks has awakened the question “is Dogecoin bottoming out?”
Over the last 30 days, the value of DOGE has fallen by over 35%. As at the time of this writing, DOGE down by 2.11%, leaving it with a trading value of $0.003763. Well, the news is not all negative for Dogecoin faithful, as there are some remarkable developments for the altcoin.
SALT Now Supports Dogecoin (DOGE)
Users of the lending platform, SALT can now use their DOGE holdings as collateral for collecting loans in U.S dollars. Other cryptocurrencies available on the SALT platform are Bitcoin, Ethereum, and Litecoin.
According to the lending platform, the decision to support DOGE as collateral option arose from increased international demand, stating the U.K, New Zealand, Hong Kong, and Vietnam as areas with the most interest.
After announcing the SALT support for DOGE, Ross Nicoll, developer of DOGE has stated that the next major plan for him and his team is to secure a trading pair on the leading cryptocurrency exchange, Coinbase.
Doge Racer is coming soon
The indie (independent) game, Doge Racer has been in the works for a long time now, and its launch is no longer far away. On October 25, developers of the game shared screenshots of the game which is expected to bring the fun back to Dogecoin.
The game which was inspired by the Dogecoin community will use DOGE as an in-game currency for the racing game. Additionally, the game is expected to support multi and single player modes.
The Doge Racer if given the right publicity can bring more exposure and usage for Dogecoin, setting up a structure for the long-term growth of Dogecoin which would help in the comeback of this altcoin.
Continue Spreading the Love: Dogecoin Socks for the Homeless
Despite watching their beloved digital asset lose against the bears, members of the Dogecoin community are still spreading all the love they can.
Through the charity program, Dogecoin socks for the homeless, members of the Dogecoin community have donated about 120 pairs of socks to homeless people in Los Angeles this October.
The project may be an act of charity by the members of the Dogecoin community, but distributing socks to homeless people, and making headlines for doing so serves as a medium of publicizing the altcoin.
American Airlines embarked on a project similar to the Dogecoin socks for the homeless, although the former out socked the later.
This shows that this act of charity has gained recognition, and could possibly increase the interest of institutional investors, which would be of major help to Dogecoin at a time such as this.