Apple conspiracy theorists have a bit more fodder today as they day after the company from Blockchain .info from iTunes, the first dogecoin approved app became approved. Named MYDOGE, the dogecoin wallet app is more of a shell than an actual mobile wallet. The wallet lets users connect to existing hosted wallets, such as from Dogecoin.info, with their balance appearing on the app. The app also generates the hosted wallets QR code to allow other mobile users to scan it for P2P transfers. However, MYDOGE doesn’t offer the ability to send doge from the app.
In terms of other features, the app comes with a robust list of options. Among the more important features is the ability for dogecoin balances to appear in different valuations such as in dollars, bitcoins, or litecoins. Perhaps dogecoins most important contribution to the digital currency sector has been its ability to introduce the technology the new users. In this regard, there is a strong demand to know “how much my money is worth in dollars” and not just bitcoins. As such, by adopting cross-currency valuations, MYDOGE is primed to meet the use case of new shibes. In addition to the balance features, MYDOGE also is integrated to the dogecoin subreddit allowing for the retrieval of up to date activity in the community.
Dogecoin volumes active
Worth noting in dogecoin trading was a selloff that occurred a few hours ago on heavy volume (see chart). Prices dropped from 163 to 150 satoshis before rebounding back to the 160 level on volumes of over 200 million doge (about $250,000). Until that time it had been a relatively quiet 24 hours. Without any specific news taking place one possible explanation for the selling is due to the MtGox news that has been weakening prices of bitcoins. As such, the selling may have been the result of a large owner deciding to convert their holdings back into bitcoins for an easier shift into fiat currency. With the vast majority of alt-coin trading denominated in bitcoins, their prices are highly intertwined with bitcoins. As such, a collapse in Bitcoin prices would be expected to drive down the dollar value of all alt-coins, dogecoin included. This has been seen today with the bitcoin price fall causing DOGE/USD values to drop from $0.00140 to $0.00105 today ()
