A lot of interesting things are happening in the world of cryptocurrency. Despite the overall negative momentum affecting all markets yet again, the Dogecoin price continues to offer a breath of relief. Its market cap is also on the verge of entering the top 15, if this trend keeps up.
Bullish Dogecoin Price Run Continues
It is uncanny how virtually all cryptocurrencies follow Bitcoin’s pattern except for one specific coin. Looking beyond small-cap pump-and-dump cycles, it is evident Dogecoin is the only currency with some potential right now. It has made speculators a lot of good money these past few weeks, and a new opportunity looms on the horizon.
Thanks to another Dogecoin price jump over the past 24 hours, things are looking very interesting. Although the currency has only noted a small 2.27% increase over the past 24 hours, it is doing something no other top currencies – outside of Tether – can do as of right now. Even so, Tether is no real concern in this regard, at least as long as their total USDT supply doesn’t shoot up astronomically.
For the Dogecoin price, this new trend pushes the value to $0.006425, a relatively high level considering the overall pressure across the markets. This is the second time in a week Dogecoin reaches highs not seen since February, and it shows the cryptocurrency industry is far from dead at this stage. Even so, Dogecoin is not the “main brand” in this industry either, by any means.
The excitement surrounding Dogecoin is very easy to explain. A lot of users see major potential in the Dogethereum project, which bridges the gap between DOGE and ERC20 tokens. Establishing a trustless and decentralized exchange protocol for these tokens is a big challenge, but recent developments show it can be done when passionate enough.
Additionally, it seems Dogecoin successfully maintains one of the more active cryptocurrency networks in the industry today. It generates a lot of daily transactions and the number of daily active addresses has not diminished in the slightest. It is evident things are coming together for the meme coin of cryptocurrency, especially because it does things no other cryptocurrency can at this stage.
How long this Dogecoin price momentum will remain in place, is always difficult to predict. Not much has changed over the past few days, other than more upward momentum materializing. That is a very promising sign in this regard, although the Dogecoin price will reach a peak at some point. For now, it maintains the 17th place in terms of market cap, but entering the 15 is not necessarily impossible either.