With the Dogecoin August incredible performance still fresh in the DOGE holder mind, the coin seems to have taken a dive with the sellers in total control. The drop in value has been attributed to increased panic leading to massive sell-off. However, the short term drop appears to be coming to an end if the last 24-hour performance is anything to go by.
Dogecoin (DOGE) is currently ranked 21 by market cap after moving from 24th in the last 24 hours. The same period has seen the coin gain 8.30% to trade at $0.004167. This comes at a time when major coins are oscillating between the red and green trading zones.
Dogecoin Price Headed North Thanks to SALT
With the good news that DOGE is headed for listing on the SALT platform, the coin appears to be headed to the moon. SALT has become a very popular outfit for crypto loan seekers and it will make it possible for DOGE to be accepted as collateral against traditional currency loans.
DOGE has been chosen by SALT because of its high liquidity levels which have seen the coin hit the 23million mark in volumes in the last 24 hours alone. This is a clear indication that it is becoming a very popular coin in the market. Once added on the platform, DOGE will be trading alongside other major coins including BTC, LTC and ETH.
In a blog post on Medium, the announcement indicates that the coin will be used as collateral against the dollar, the British Pound and Japanese Yen and more to be added in the future. Crypto to Fiat lending has become very popular and Dogecoin is set to benefit from increased adoption for traders looking for coins that can be used as collateral.
New Indie Game Coming to Dogecoin
The Doge Racer project developers have been working behind the scenes and have made public some screen shots of the upcoming Indie game. The upcoming game is set to give Dogecoin a huge boost and given the popularity of online gaming. This is part of the exposure that has been missing. This will also increase the demand for the DOGE coin which will lead to value growth.
In a recent tweet, the Doge Racer Team posted what the community should expect:
“Doge Racer Version 1.3.0 much early Alpha is now available on @Patreon !
For as little as $1 you can play now and help us make Doge Racer even better!
#DogeRacer #Dogecoin #DOGE #indiegames #gamedev #madewithunity
Dogethereum Boost on DOGE Demand
The Dogethereum Bridge has given DOGE huge publicity and investors have kept the digital asset on their watch list. With the upcoming Indie game on the platform and SALT listing the coin is set to gain momentum towards the end of Q4. The developer team has also noticed the potential behind the coin and working round the clock to ensure the recent hype does not die silently.
With the joke tag already buried, the new look Dogecoin is set to challenge high flying coins in the market and its value proposition is worth investing. With the few use cases added on the online gifting and tipping function, the sky is the limit for DOGE.