In the world of cryptocurrency, there are always interesting trends worth keeping an eye on. Whereas most people chase pumps and try to make money by doing so, others look at Dogecoin for its stable value. It seems that trend is continuing, as Dogecoin begins to look more like a stablecoin these days. This is despite another minor Dogecoin price loss forming on the charts recently.
Dogecoin Price Continues to Surprise
It doesn’t happen all that often cryptocurrencies will not only not lost too much value, but keep their price stable for lengthy periods on end. Dogecoin has been one notable exception in this regard, as its value hasn’t changed all that much over the past few days. It seems as if DOGE is the new stablecoin in town, a label it had also earned briefly in late 2018. Not necessarily a bad thing by any means, although it isn’t exactly what most people would expect.
Over the past 24 hours, there is a rather steep decline where the price is concerned. A 1.7% drop is higher than on most days, although it seems the value won’t drop below $0.00185 anytime soon. In terms of DOGE/BTC, the 52 Satoshi level is still in play at this time. It is all one can ask for as a Dogecoin holder, by the look of things, at least until the bullish momentum returns.
On social media, it would appear some users are making fun of Dogecoin because of its stable value as of late. Despite some brief uptrends on the chart, it is evident the value remains flat first and foremost. That in itself only fuels the speculation as to how Dogecoin is effectively a stablecoin, even though that is not necessarily the case whatsoever. It is not the worst label a coin can earn in the cryptocurrency world, though.
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— prometx (@prometx)
One has to keep in mind Dogecoin is primarily about bringing people together in the cryptocurrency world. It seems Dogecoin has successfully introduced a lot of people to Reddit, for example. That is not necessarily what one would expect under the current circumstances, although the community aspect has always been the main focus for Dogecoin as a whole.
Today is my 5-year reddit cakeday. I joined reddit because of r/dogecoin. y'all are awesome via /r/dogecoin hot 🔥 in much wow!
— Domain Address Info (@DomainAddress4u)
For those who are not too happy with the way Dogecoin’s value is evolving right now, it would appear there are a few minor arbitrage opportunities on the horizon as well. More specifically, there are some minor price gaps between well-known exchanges, which allow users to pocket some quick profits in the process. Options like these should never be overlooked, as they can add up to some good money over time.
Buy at and sell at . Ratio: 0.83%
Buy at and sell at . Ratio: 1.56%— Arbing Tool (@ArbingTool)
Overall, it would seem Dogecoin isn’t necessarily in the best of places right now. That would be a rather accurate assessment, although it may also be blown out of proportion slightly. There has not been a bearish Dogecoin value trend for quite some time now, even though the value might not necessarily be performing aa some people would like either. Stability is a rare trait in cryptocurrency, yet Dogecoin seems to have it in bunches.
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.
Published at Tue, 12 Feb 2019 08:49:39 +0000
