2018-11-16 00:18 |
Much bear market has caused DOGE to succumb to it as well – it fell along with its “serious” siblings with a heavy bang of 23% loss for the week and almost 50% price loss for the month. However, price did tank but not the spirit of Dogecoin holders.
Dogecoin has recently started showing why the tag of a “meme” currency doesn’t mean that a currency is useless.
According to data from Coinmetrics.io, the favorite meme coin of the crypto community has consistently outperformed Bitcoin Cash (BCH) with more than twice the number of transactions on their network. The only exception that can be seen on the chart is the September stress test on the Bitcoin Cash network when the number of transactions spiked above DOGE. Apart from that DOGE has always stayed ahead in transaction activity.
A major Dogecoin-based project called DogePal will be looking to increase the token’s overall liquidity and usability. DogePal is a payment system (named after PayPal) which will look to give DOGE holders an ability to pay with their favorite cryptocurrency. The creator of DogePal explains the basics of his project:
“DogePal is currently a system that allows people to pay each other in Dogecoin, using email addresses. So, assuming you had access to the internet, you could be on an Android or iPhone at a farmer’s market, and a cup of coffee is 100 doge, and to buy the coffee you send it to the vendor’s email address. The vendor has their DogePal running on their iPad or phone, and they get notification of the payment within about 20 seconds.”
Future plans for DogePal include introducing 2FA and news feed with DogePal-specific news and an account history. You can read the complete interview with the creator Tom here.
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With websites like Litebit, Anycoin, Suchlist, keys4coins, dogegifts, clockworkcrypto and an official Reddit tip bot (there is talk of a Telegram tip bot as well), more and more ways of spending your DOGE are popping up by the day.
Experts feel that a simple currency like Dogecoin might be less intimidating to newbie investors who don’t want to own “parts” of Bitcoin but would rather have a whole rounded amount of a single cryptocurrency. As there are 115 billion Dogecoins in circulation (making DOGE the 5th most circulated coin on the market), there are plenty of coins to go around. Dogecoin has a good marketing potential, as they’ve cleverly sponsored various high profile events in the past which brought them increased adoption. Meme or not, people want to own Dogecoin.The post Bears finally make Dogecoin (DOGE) whine along with the market. But the spirit of DOGE is still there appeared first on CaptainAltcoin.
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