DOGE/BTC Hits 6-Month Low, Trading Volume Dwindles
In recent days, Dogecoin (DOGE/BTC) fell to its lowest level since the early stages of its September rally, hitting 49 satoshi. It temporarily broke through its mid-December low of 50, but has since held stable near 51 ($0.00014) for the past week.
Of particular concern for dogecoin holders may be the unusually low trading volumes, a signal of possible waning interest in the coin. Only $56,000 worth has been traded during the past 24 hours, well below typical levels that by-far exceed $100,000.
Much of dogecoin's Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term-denominated price activity in 2015 appears to have been driven by bitcoin prices themselves, with dogecoin's dollar-denominated value maintaining a steadier profile. DOGE's rise to 70 satoshi in mid-January was simultaneous with bitcoin's sharp fall to below $200, both moves being of similar magnitude.
Similarly, it can be argued that its February slump, now extended into March, has been largely affected by bitcoin's appreciation. Bitcoin is up by nearly 30% since its early-February trough in the low $200s, with DOGE off by 25% relative to bitcoin during the same period.
The mediocre activity contrasts sharply with that of one year ago, when DOGE prices soared multifold to over 300 satoshi despite widespread selling in the crypto markets. Indeed, unlike many other Altcoins Altcoins Altcoin is a term that describes any cryptocurrency that isn’t Bitcoin. Since Bitcoin’s inception there have been countless cryptos launched. Many of these have met varying levels of success, though several have risen to rival Bitcoin itself.Ether, XRP, Stellar, Monero, Ada, and Dash are a few examples of the more popular altcoins. There presently exist over 5,000 altcoins and this number seemingly grows constantly. The paramount altcoins as of May 2020 are Ethereum and Ripple.In terms of struct Altcoin is a term that describes any cryptocurrency that isn’t Bitcoin. Since Bitcoin’s inception there have been countless cryptos launched. Many of these have met varying levels of success, though several have risen to rival Bitcoin itself.Ether, XRP, Stellar, Monero, Ada, and Dash are a few examples of the more popular altcoins. There presently exist over 5,000 altcoins and this number seemingly grows constantly. The paramount altcoins as of May 2020 are Ethereum and Ripple.In terms of struct Read this Term, DOGE has habitually abstained from amplifying the price movements of bitcoin.
Its market cap has held relatively steady near $14 million during the past month, but the failure to make progress has relegated Dogecoin to 7th in market cap rank.
In recent days, Dogecoin (DOGE/BTC) fell to its lowest level since the early stages of its September rally, hitting 49 satoshi. It temporarily broke through its mid-December low of 50, but has since held stable near 51 ($0.00014) for the past week.
Of particular concern for dogecoin holders may be the unusually low trading volumes, a signal of possible waning interest in the coin. Only $56,000 worth has been traded during the past 24 hours, well below typical levels that by-far exceed $100,000.
Much of dogecoin's Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term-denominated price activity in 2015 appears to have been driven by bitcoin prices themselves, with dogecoin's dollar-denominated value maintaining a steadier profile. DOGE's rise to 70 satoshi in mid-January was simultaneous with bitcoin's sharp fall to below $200, both moves being of similar magnitude.
Similarly, it can be argued that its February slump, now extended into March, has been largely affected by bitcoin's appreciation. Bitcoin is up by nearly 30% since its early-February trough in the low $200s, with DOGE off by 25% relative to bitcoin during the same period.
The mediocre activity contrasts sharply with that of one year ago, when DOGE prices soared multifold to over 300 satoshi despite widespread selling in the crypto markets. Indeed, unlike many other Altcoins Altcoins Altcoin is a term that describes any cryptocurrency that isn’t Bitcoin. Since Bitcoin’s inception there have been countless cryptos launched. Many of these have met varying levels of success, though several have risen to rival Bitcoin itself.Ether, XRP, Stellar, Monero, Ada, and Dash are a few examples of the more popular altcoins. There presently exist over 5,000 altcoins and this number seemingly grows constantly. The paramount altcoins as of May 2020 are Ethereum and Ripple.In terms of struct Altcoin is a term that describes any cryptocurrency that isn’t Bitcoin. Since Bitcoin’s inception there have been countless cryptos launched. Many of these have met varying levels of success, though several have risen to rival Bitcoin itself.Ether, XRP, Stellar, Monero, Ada, and Dash are a few examples of the more popular altcoins. There presently exist over 5,000 altcoins and this number seemingly grows constantly. The paramount altcoins as of May 2020 are Ethereum and Ripple.In terms of struct Read this Term, DOGE has habitually abstained from amplifying the price movements of bitcoin.
Its market cap has held relatively steady near $14 million during the past month, but the failure to make progress has relegated Dogecoin to 7th in market cap rank.