Every single cryptocurrency ecosystem has its own developments and updates that go by unnoticed. In the case of dogecoin, the project is often ignored due to its meme-y nature.
Despite the odds, there have been some interesting developments in the past week. All of them show that dogecoin is still very much alive and kicking in 2020.
Price Stability Remains
Most altcoins only get attention when their value explodes or implodes. Dogecoin is a very different creature in this regard. Its weekly and monthly price charts show there is very little change. In fact, it is one of the most stable currencies not directly pegged to fiat currencies.
About a week ago, there was some excitement, however. The DOGE value suddenly shot up by over 17% to reach a value of $0.00242. That momentum was relatively short-lived, although the DOGE is still valued at $0.00219 today. Being a stable currency amid a sea of price changes is not a bad thing, particularly when considering how accessible dogecoin is to newcomers.
Doge Racer Development Continues
For several months now, one community member has been working on a game. Known as Doge Racer, it is an effort to promote dogecoin in a fun manner. It also provides advertising options for other community members or companies to make the most out of. A very underrated venture that deserves a lot more attention than it is getting today.
Elon Musk Tweets
In this modern day and age, every Tweet is scrutinized. Most of the noise is worthless, but the recent message by Elon Musk has gotten a lot of people excited. For once, it had nothing to do with one of his own companies, bitcoin, or weed. Instead, Elon claims how users should “toss some Dogecoin to their Witcher”.
A very interesting play on words involving the recent The Witcher TV series created by Netflix. Why DOGE was mentioned exactly, remains unclear. Musk has always seen merit in this altcoin, thus it is possible this is merely a strategic shoutout.
For a cryptocurrency that has been around for years now, dogecoin continues to attract newcomers with relative ease. It is one of the most approachable cryptocurrencies for novice enthusiasts. A recent Reddit post confirms newcomers are wondering how long it will take to fully synchronize their wallet on the first boot.
This only further confirms people are still flocking to DOGE. There is also some good advice in the Reddit threat regarding the time required, or even alternative wallets. A strong community can depict the true value of any cryptocurrency. Dogecoin’s community is big, helpful, and still growing on a regular basis.
Dolan Dark “Endorsement”
Most people may have never heard of Dolan Dark. He has over 1.4 million Twitter followers, and is a very active YouTube content creator. In a recent poll on Twitter, he asked the people which is the meme of the previous decade. Dogecoin was one of the options on the list, albeit it faced some stiff competition.
— Dolan Dark (@DolanDark) January 6, 2020
Big was people’s surprise to learn that Doge is the unofficial Meme of the Decade winner. Such a big shoutout by a Twitter and YouTube user with a large following is very beneficial. It may help expose more users to what this altcoin is all about and why cryptocurrencies matter.