For the time being, everyone will have to wait and see what comes next for the cryptocurrency markets. The current trend is not exactly encouraging by any means. If the total market cap continues to drop lower, the first half of this week will pose many different challenges. How the Dogecoin value will respond to whatever comes next, is difficult to predict. Anything can happen in this volatile world of cryptocurrencies.
— Richard Heart BitcoinHEXin6wks (@RichardHeartWin) January 28, 2019
Even in 2019, there are still people who oppose Dogecoin for what it was created to be. Mochi, while clearly acting as a developer in the blockchain and crypto world, is still not convinced Dogecoin should be where it is today.
If your value wasn't stored at ATH, then it's a little relevant to when you stored it. Gold is considered a store of value and has an ATH of $2k, but was $40 50 years ago. Bitcoin is 10 years old and has gone from pennies to thousands of dollars…
— kryptoid (@elkryptoid) January 28, 2019
It has no actual product nor backing, but that doesn’t mean it can’t be successful. It will never be on the same level as Bitcoin, yet it seems unlikely that was ever the objective for the initial Dogecoin creators.
Following a net 3.3% loss in USD value and a 0.17% loss over Bitcoin, there doesn’t appear to be any imminent market reversal on the horizon either.
The entire scene is pep talks when real news exposes the scumbaggery of crypto, and trash talking nocoiners when a pump happens.
— Richard Lay (@richrdlay) January 27, 2019
Although the 57 Satoshi level is still pretty decent, any further DOGE/BTC losses will cause a lot of market friction first and foremost. Bitcoin has turned incredibly bearish once again as the total crypto market cap dropped below $115bn in the early hours today.
It is important to note this most recent DOGE value decline has nothing to do with the network or ecosystem in the slightest. Dogecoin has been $2 behind Bitcoin for quite some time now and it is not giving up that position anytime soon.
#Dogecoin currently "sending" $32M USD per hr., some see a price to buy and sell others see an awesome technology that transacts instantly with super low fees on a worldwide decentralized blockchain. https://t.co/924UU0KSIt
— mj (@silkmarketindex) January 28, 2019