After being labelled a ‘joke’ by many of the cryptocurrency enthusiasts and experts, Dogecoin (DOGE) has continued to raise in value after the short downfall in early July. This has heavily been affected by the overall market pump in the last week of July and recent listing on Robinhood. The coin started off as a fun token aimed to push a dog to the moon but is currently focusing on the DOGE racer game.
DOGE is currently a market leader within the crypto arena holding position 36 according to data from coinmarketcap. The crypto coin whose idea came from a popular dog meme is capitalizing on this fun mentality with the introduction of the Doge Racer game. At the moment DOGE is on a bearish trend trading at $0.002929 but is still above the $330 million mark in market capitalization. Fundamental analysis based on Doge coin’s latest development and listing point towards an altcoin that may appreciate in value very soon;
Doge Racer Game
This development aims at integrating more users within the crypto space. Dogecoin is diving into the gaming arena, a highly potential market for tech savvy individuals. The Dog racer game is meant to be a fun filling experience for the Dogecoin community as well as other crypto enthusiasts. In addition, gamers from all over the globe could show interest in the crypto oriented game hence access to the DOGE coins eventually.
TCiceroDev is the brain behind the Doge racer game although inspired by the dogecoin community. This small Indie Company is developing a gaming platform for dogecoin with highly advanced features. So what is extraordinary about the game? Doge racer is meant to be an online multiplayer and fully fledged once completed. Other features will include a story mode, ability to customize vehicles and most importantly a crypto market place!
Recognition from major coin exchanges to the point of being listed has been a fundamental boost for most altcoin’s reputation. Doge coin got listed barely two weeks ago by the popular US based crypto exchange ‘Robinhood’. The move came as a price boost for DOGE which hopes to capitalize on Robinhood’s trading app popularity. DOGE has been up 19% in the past month although shorter time periods indicate a downtrend as is the mood in crypto markets right now.
DOGE Market Statistics
The cryptocurrency falls among the small cap coins and its average traded volume is currently at $12.41 million. Doge is a significant player when it comes to the return on investments ranking 4th position out of 18 small cap cryptos in the last month. However, the coin remains relatively volatile as is the nature of crypto markets with the most recent data showing 26% volatility in the past 20 days.
Dogecoin remains a favorite within the crypto arena as we dive deeper into the 3rd quarter of 2018. This is because of a prospectus and vibrant community that is working towards the integration of more users. The coin’s liquidity ratio is expected to improve from the current 1/infinity figure to a more significant ratio after the coin ventures into the US crypto markets via Robinhood. At the moment, fex is the leading coin exchange for exchanging the DOGE coin against BTC followed closely by BtcTrade.im and Poloniex.