As meme currencies continue to take the crypto world by storm, it is essential to look at the original meme coin. Dogecoin is, for all intents and purposes, a meme currency with minimal utility. However, things are changing behind the scenes, and the DOGE price responds in kind in search of $0.3 and higher.
DOGE Price Turns Bullish Again
Since the Dogecoin price rally earlier in the year, most people have shifted their attention elsewhere. That is not abnormal, as other currencies have provided more prominent momentum these past few months. In addition, numerous dog-themed competitors, including Shiba Inu and Dogelon Mars, attempt to take away the spotlight from DOGE.
However, the DOGE price notes some impressive market momentum. The monthly gain of 23.5% might not seem like much on paper, but it appears today is a bullish day for Dogecoin. An early 5% gain on the day confirms people are buying this asset and want to see its price get past $0.28 convincingly. A push to $0.3 or a bit higher isn’t entirely impossible either under these conditions.
More DOGE Use Cases
One way of sparking attention for this meme currency is by gaining broader acceptance of DOGE as a payment method. For example, Fast Courier, a courier comparison website in Sydney, Australia, will accept cryptocurrency payment, including Dogecoin. An exciting addition capable of influencing the DOGE price as the company confirms it is a conscious decision. Crypto assets are, in their opinion, “functional currencies” that empower consumers and businesses alike.
SHIB/DOGE On Binance
The long-awaited trading pair on Binance is going live tomorrow. Users will be able to convert between SHIB and DOGE directly. Although it remains to be seen how well this new market pair performs, there is some anticipation among both communities. It will not be a battle of supremacy by definition, although both currencies note strong market momentum.
Is A $1 DOGE Price Possible?
There are always people who expect the moon and the stars from Dogecoin in the price department. While nothing is impossible in this volatile industry, a DOGE price of $1 seems rather unlikely. However, this screenshot on Reddit shows an empty order book. That doesn’t mean $1 will be reached right away, though, as it illustrates the lack of liquidity for this particular market.
Elon Musk Is At It Again
It doesn’t take a genius to figure out why the DOGE price is going up again. Elon Musk tweeted about starting a new university and accepting tuition payments in Dogecoin. Moreover, dog owners would get a discount. It is a silly, although not unrealistic, idea by one of the wealthiest people on the planet.
Looking to advertise? We will gladly help spread the word about your project, company, or service. CryptoMode produces high quality content for cryptocurrency companies. We have provided brand exposure for dozens of companies to date, and you can be one of them. All of our clients appreciate our value/pricing ratio. Contact us if you have any questions: [email protected]