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Dogecoin Price Remains Below $0.002 as DOGE/BTC Gets Hammered

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As most of the top crypto markets are turning bullish again, it seems as if things will finally begin moving up in general. Surprisingly, it seems the Dogecoin price is not seeing too much action to get excited about right now. Instead, its net loss in BTC value is keeping the USD value below $0.002, for the time being. Not necessarily what one would have expected to see at this time.

Dogecoin Price Momentum has yet to Kick in

When it comes to looking at individual cryptocurrency markets, there will always be some exceptions to the general trend. In most cases, one would expect Dogecoin to see to turn bullish alongside other markets, albeit in a more subdued manner. Today, however, it would appear that is not the case, as the DOGE price remains on the bearish side of the spectrum.

To put this in perspective, the Dogecoin price in USD value has risen by 0.09%. Not the biggest gain, especially when considering how one DOGE is valued at $0.001984. Reaching $0.002 again is certainly possible, but it is simply not happening as of yet. In terms of DOGE/BTC, there is a net 2.32% loss, which is perhaps the most worrisome aspect. The current 51 Satoshi level may not remain in place for very long, by the look of things.

On social media, there is hardly ever any negative sentiment toward Dogecoin. Even today, Shibatoshi Dogomoto is convinced going all-in on Dogecoin is the smart choice. Never put one’s eggs in the same basket, though, as that will usually cause financial trouble in the long run. Dogecoin is a stable currency, though, but it may not necessarily yield spectacular gains in the coming weeks and months.

Some Dogecoin community members are still fond of the Dogecar days. I certainly was an intriguing sight to see a NASCAR race where one car’s design was all about Dogecoin and this mysterious cryptocurrency. Back in those days, cryptocurrencies in general were a lot simpler and there were a lot less scams as well. Even so, there is a chance Dogecoin will rise again in terms of mainstream media exposure, but it may not happen anytime soon.

A meme a day often keeps the bad juju away, even in the cryptocurrency world. Dogecoin Memes has everyone covered in this regard. Its latest meme further confirms Dogecoin will receive a new update fairly soon. There is also some attention for the recently launched DOGE/USD pair on Vertbase. That latter development is a pretty big deal, although it might not necessarily affect the price in a significant manner.

Although the DOGE/BTC ratio is evolving in the wrong direction, it seems unlikely too much damage will be done in the next few days. It is not uncommon for altcoins to lose BTC value when Bitcoin is rising in value. Dogecoin is seemingly going through such a trend right now, yet it seems the momentum may shift again in the near future. Until that happens, speculators will need to endure this bearish pressure for a little longer.


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.

Image(s): Shutterstock.com

The post Dogecoin Price Remains Below $0.002 as DOGE/BTC Gets Hammered appeared first on The Merkle Hash.


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