Dogecoin (DOGE) in the latest bear market at first tried to resist it but was not able to resist the bear market for a long time, as Bitcoin (BTC) dropped excessively making it one of the worst downfalls in Cryptocurrency history. The market (Bitcoin) was so worse that the altcoins were dropping compared with USD but were rising compared with BTC. In all that scenario Dogecoin (DOGE) also got affected and dropped. But the market today (22nd Nov, 18) looks to perform much better, as Bitcoin is rising back and so does DOGE.
Dogecoin (DOGE) looks to jump back after that harsh market. DOGE is one of the top gainers of today’s market. Dogecoin seems to be regaining its shape back after its consistent downfall since the Dogethereum bridge launch. Dogecoin is currently moving up at a good pace as compared to other top altcoins, which puts Dogecoin in a good position to retrieve back its loss.
One big reason that indicates that Dogecoin (DOGE) is a long-term big fish is its real-world transactions, DOGE is more likely used for sending money and is also used for buying and selling goods. Unlike other altcoins which are used for trading on exchanges only. The core function of cryptocurrency is to be used for sending money and that is what DOGE is being used for, which puts Dogecoin on the list of one of the favorite digital assets.
In the last 24 hours’ time, Dogecoin (DOGE) has shifted $690 million worth of money, on the other side only $25 million worth of DOGE has been traded on exchanges. So, this shows that the money transferred in the last 24 hours has been used for real-word payment objectives. Comparing with other major coins Dogecoin is the stand out amongst them to be used for real-world transactions. This will give Dogecoin a lot of support because the more people will use DOGE, the more it will grow and get stable. All this can drive Dogecoin rising high and bring in a lot of investment. Dogecoin (DOGE) in future looks to be a core part of cryptocurrency with other digital assets like XRP, XLM, TRX, etc.
At the time of writing, Dogecoin was trading with a price of $0.0024 USD, recovering from last days loses as it has gained up to 10% in the last 24 hours. Seeing an increase in its market capitalization, currently, DOGE has a market cap of $282 million. This has pulled Dogecoin one step higher in market cap rankings on the 24th spot. DOGE has been doing the decent job since today’s opening, this is a good time for investors to invest in DOGE, as we see an indication of Dogecoin’s rise in coming time and the main factor to invest in DOGE and go bullish on it is Dogecoin’s resilience in the recent bear market.