In what can only be described as one of the most bizarre yet fascinating crypto stories of 2018, Dogecoin (DOGE) has continued its amazing bull run despite the prevalence of an overall bearish market. To elaborate further on this matter, since the start of September, DOGE has seen an increase of more than 77.7% in its intrinsic value— with the currency even touching an 8-month high of $0.0069 on September 11.
Conceived as a lighthearted project all the way back in 2014, Dogecoin has surprisingly turned into one of the hottest selling alt-coin commodities of this year. For example, over the course of the past 14 days, the currency has been one of the few projects to have had its head above the water and stay in the “green zone”.
Not only that, according to TradingView, DOGE is now the 20th largest digital asset within today’s ever-growing crypto sector— with the total market cap of the currency currently standing at an impressive $736.45 Mln.
Why is Dogecoin Gaining Such Widespread Appeal?
While nothing definitive can be said about Dogecoin’s recent growth spurt, there are quite a few theories floating on the internet trying to explain the currency’s newfound success. To start with, many investors seem to be actively looking for low-value currencies that have an apparent high financial ceiling. Additionally, since investor confidence at the moment seems to be quite low, many traders are going big on DOGE to build their budding portfolios.
Lastly, many millennials are also beginning to see value in this currency due to its ease of use and overall accessibility. And if that wasn’t enough, Dogecoin also offers some of the lowest transaction fees available in the market today.
No, DOGE is Not Coming to Binance
Contrary to the rumors that are currently circulating over the internet regarding DOGE coming to Binance, one of the founders of the project released a statement on Reddit, claiming that the stories were false and that no such thing was going to happen “anytime soon”. With that being said, there are still plenty of exchanges from where the currency can be procured, including YoBit, Cryptopia, CoinExchange etc.
While the Dogecoin project was initially founded as a means of allowing people to send small volumes of crypto to one another, the currency is now quickly gaining traction while showcasing some of the highest daily transaction volumes that are comparable with other premier assets such as Litecoin (LTC).