After a good run in September, Dogecoin (DOGE) has been on the down trend the entire month of October and things still look gloomy for the gifting and tipping goers. DOGE has shed over 35% in its value in the month of October alone and this is a reason for the investor and the passionate community to get worried.
Dogecoin appears to be headed backwards after joining the top 20 valuable digital asset club in August. At the time of writing, the coin was position 25 with many analysts feeling the coin is soon bottoming out. The coin has never been steady and keeps surprising the crypto space by its bursts and booms since its market entry in 2014.
Will DogePal make Dogecoin Run Wild Again?
The last DOGE price spike was as a result of the link between Dogecoin and Ethereum hype and everything appears to have calmed down. However, the recent interview with the DogePal founder could turn out to be a big breakthrough for the struggling coin.
DogePal seeks to stretch DOGE usability and enable user easily pay each other like the convectional payment methods though this will be using the digital coin. DogePal will make it easy for consumers to make payment using their email address just like PayPal and have the option to make their transactions private or public depending on its nature.
DogePal will come in handy for DOGE holders using Android or iPhones “at the farmers market”. This is a simple real life payment enabler where users can pay for their coffee, diner or groceries using DOGE coins. If the arrangement works out, Dogecoin will be the biggest winner and this will see the coin demand increase leading to price pump.
Stretching Dogecoin to the Limit
The Dogecoin outfit potential remains underutilized and Doge Pal is the ideal system to stretch it to the limits. With its recent support from SALT lending, the DOGE community appears to be waking up as this will add to the list of DOGE use cases. Using DOGE as collateral against loans is a market rout that has remained unexploited in the crypto-sphere and the coin stands a big chance to benefit.
DOGE exposure to other coins already listed on the SALT outfits like BTC, ETH and LTC will boost the investor confidence and enhance its market credibility. After the SALT deal was concluded, the next plan according to a developer at Dogecoin; Ross Neil, is getting listed on Coinbase which will increase its reach and visibility across the globe.
Doge Racer on the way
Online gaming is set to get a new home on the Dogecoin network and this will be ideal for the gifting and tipping outfit. The Doge Racer has been in the pipeline and is about to hit the market thanks to the community behind the joke coin. The launch will me bring the system back to live as the coins’ fortunes will be expanded to the next level.
After the Doge Racer screenshots appeared online in October, crypto and gaming fans are geared for the launch which will be the game changer for the coin and might see it enter 2019 in style. A decline turnaround for DOGE should be in the offing even before the end of Q4 and this will make it a coin to watch in the future.