Dogecoin Price Tries to Mount a Comeback Through Potential DOGE/BTC Reversal

As the overall cryptocurrency momentum seems to become slightly less bearish, things will undoubtedly get pretty interesting moving forward. Many people turn to Dogecoin to see where things may head in the very near future. So far, it seems the Dogecoin price hasn’t recovered as of yet, but there is a chance things will improve in the near future.

Dogecoin Price Begins Recovering BTC Losses

It is quite interesting to keep an eye on all of the cryptocurrency markets in this day and age. Considering how everything stands or falls with Bitcoin, one would expect the altcoins to struggle quite significantly. That is certainly the case right now, although things have started to look less dire compared to a few hours ago. As such, some sense of recovery now has the markets in its grip, which can yield some unexpected market momentum in the process.

Over the past 24 hours, the Dogecoin price has still lost 4.16% as it dropped to $0.002764. This means the $0.003 level will not be recovered in the very near future, which may displease quite a few traders in the process. However, in DOGE/BTC, things are starting to look up. While there is still a deficit, the 1.04% loss is far less steep compared to other markets. At this time, one DOGE sits at the 55 Satoshi level, which is pretty interesting at this time. A small rebound may occur in that ratio, which can have a positive impact on Dogecoin’s USD value as well.

While the price changes may be going on, things are seemingly heating up behind the scenes. Huobi US is currently launching a Dogecoin4charity campaign. Every Huobi signup and level 1 verification will receive 1 DOGE. Additionally, the company will donate 1,000 DOGE per verified sign up to Grateful Dogs Rescue in San Francisco. It is a very interesting campaign to keep an eye on, which may bring some more positive attention to the Dogecoin project as a whole.

There is also a chance Dogecoin will be officially supported by Trust Wallet in the near future. The company hosts a poll on Twitter where users can vote for one of four projects to be supported next. Dogecoin faces some stiff competition in the form of Cardano, NEO, and EOS, but it is an interesting option to gain more exposure for DOGE within the cryptocurrency industry. For now, it seems Cardano has the most votes, however.

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Most people know Dogecoin because of the amazing memes shared by community members at regular intervals. Bobby Hill has combined Game of Thrones with Dogecoin in this latest meme, which would put a very interesting spin on this popular show. It brings a chuckle to most people, which is all one needs during this bearish pressure. The creativity of Dogecoin community members never ceases to amaze when it comes to the memes.

Unless DOGE/BTC goes through a major bull run in the coming hours and days, it seems unlikely the DOGE/USD ratio will improve in quick succession. However, Bitcoin itself looks less weak compared to yesterday afternoon, which may be indicative of somewhat of a market reversal. As the weekend is just around the corner, there will undoubtedly be some intriguing momentum to look forward to. Only time will tell if that is for better or worse.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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