Dogecoin back above 30 satoshi: Is a comeback in the works?

While it is still premature to throw another Dogeparty, one can’t help but notice Dogecoin’s 3-month trading pattern.

To be sure, Dogecoin (DOGE) is still languishing near all-time lows. However, it seems to have refused to budge past 22 satoshi, save for a single momentary drop to 19 satoshi on abnormally high volume 2 weeks ago. Shortly thereafter, DOGE soared to as a high 38 satoshi before settling in the mid to upper 20’s.

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And like its heyday in February, it seems to have bucked the downward trend gripping most altcoins, at least for now.

Today, DOGE found its way back above 30 satoshi ($0.00014) for the first time in over a week.

The pattern we’re seeing in DOGE is one of bottoming- the question being if that is really what’s going on. As we’ve seen with most altcoins over the past 6 months, bottoming signals have really turned out to be little more than speed bumps on a downhill road. DOGE was no exception.

Interestingly, DOGE’s rise today comes as the same time as that of its progenitor Litecoin. The two have correlated closely during the past 4 weeks of instability in crypto markets.

Fundamentally, perhaps recent inroads into real-world applications are paying off in the markets. DogeTipBot has expanded to Twitch, and Dogecoin is now accepted by Cheapair.

DOGE currently ranks 7th in market cap, 4th among mineable currencies. Its total valuation is $12.6 million.