Dogecoin (DOGE) Price Drops After Weekend Surge - Global Coin Report
Connect with us

Altcoins

Dogecoin (DOGE) Price Drops After Weekend Surge

Published

on

Dogecoin
READ LATER - DOWNLOAD THIS POST AS PDF

Dogecoin (DOGE) has had an exciting price surge in the previous several days, especially after news of Dogethereum, or DOGE’s plans to become compatible with the ETH network. However, it would seem that the excitement has passed, and DOGE’s price is dropping once more.

Dogecoin price surge surprises the crypto world

Dogecoin has started off years ago as a meme, and a lot of people do not see anything more than that when they look upon it. However, even though the coin may have started out as a joke, it has managed to surprise quite a few investors when its price surged a few days ago.

Dogecoin is often underestimated, but it remains one of the most mineable coins on the market. Additionally, it is often used in transactions, which increases its activity, and the coin is already more active than Litecoin or Bitcoin Cash. Despite this, however, the coin will likely not go anywhere due to the fact that it has an unlimited supply, which means that the mining will never stop. That way, its price can only get lower and lower, as there are more coins in circulation.

A couple of days ago, DOGE’s price suddenly jumped, possibly led by Gate.IO, where an entire third of its volumes are concentrated. The spike has reminded people about DOGE, and many even started talking about the coin getting on Binance.

In the meanwhile, there was also news of Dogethereum, a new DOGE project that will allow the coin to become compatible with ETH’s own network. Dogethereum will basically be a smart contract that allows direct swaps, which is how DOGE might be able to exist on ETH network. As usual, there are skeptics who believe that the project has no future. However, Dogethereum is still expected to launch soon, likely within days.

If it does happen, and DOGE gets to ETH network, it will be a perfect coin for micropayments, rewards, and alike. Currently, DOGE lacks a proprietary wallet, since its own has had a lot of issues lately. The flaw of the project is that there is likely going to be a need for a centralized party that would have to approve the asset switch, new Dogethereum’s issuing, as well as the release of Dogecoins that will be locked.

The excitement is over, as so is Dogecoin price surge

After an entire weekend of going up, DOGE price dropped by an entire 35% yesterday. The coin’s current price is $0.005199, and it still continues to drop at the time of writing. The drop came after the price surged by 70%. Luckily, the drop did not really have much of an effect on the rest of the market. Most of it is currently in the red, but the analysts claim that DOGE is not responsible for this change.

So, what happened to DOGE? Well, it might seem that the initial excitement regarding the Dogethereum simply blew over and that DOGE’s price is simply correcting itself. Many also claim that this is not the last we will hear of this coin and that it might go up once again as soon as Bitcoin makes a significant move. Another possibility is that Dogethereum coming to life will also spark a new wave of interest in the coin. It remains to be seen, and the next few days may be quite interesting for DOGE.

For the latest cryptocurrency news, join our Telegram!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Altcoins

Lotto Nation is Revolutionizing the Traditional Lottery Industry

Published

on

Lotto Nation
READ LATER - DOWNLOAD THIS POST AS PDF

As the global economy continues to deal with the economic fallout due to the ongoing pandemic, companies are coming to terms with the fact that normalcy may not return for quite a while.  Many economists are wondering how the business landscape will look a year or more from now.  It’s certainly possible that many businesses, such as retailers and restaurants, may be unable to survive the current downturn.  But while some businesses will falter, others will emerge stronger than ever.

Traditionally, when economies go through a severe downturn, companies adapt.  Those that maintain the status quo usually have great difficulty while those that adapt prosper and conquer.  One possible example of this is Lotto Nation.  Thanks to the entrepreneurial skills of Nils Thomson, the Founder and CEO of Lotto Nation, the company is attempting to completely modernize the traditional lottery industry.

Current Lottery Model is Severely Outdated

It’s safe to say that nearly every human that has ever walked the earth has fantasized about winning the massive jackpot that would completely change their life.  These dreams have turned the global lottery industry into a $302 billion market that is expected to reach $380 billion by 2025.  Despite this predicted growth, the industry suffers from a variety of problems that are preventing it from really exploding.

Perhaps the biggest problem is that traditional lotteries are centralized.  Because of…

Continue Reading

Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

Published

on

Aluna.Social
READ LATER - DOWNLOAD THIS POST AS PDF

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

Continue Reading

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

Published

on

CoinFlip
READ LATER - DOWNLOAD THIS POST AS PDF

As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

Continue Reading

Press Release