Dogecoin beats the market with a 25% growth in 7 days even as Bitcoin is deep in red

  • Dogethereum project served as a powerful upside trigger.
  • DOGE/USD gained over 25% in recent 7 days and doubled in value since mid-August.

Dogecoin (DOGE) is a joke coin created in the end of 2013 and called in the name of a popular internet meme Doge. Dogecoin was sitting quietly for a prolonged period; however, everything changed in the end of August, when the project revealed the plans to launch Dogethereum project that will allow tokens exchange between Dogecoin and Ethereum platforms. 

The project went live on September 5 and served as a strong growth driver. Remarkably, the cryptocurrency has been growing even amid the global decline on the cryptocurrency markets. On Sptember 8, Dogecoin beat Zchas and Dash by market value. Currently, Dogecoin takes 19th place with the market cap nearly $800M and average daily trading volume $71M. 

DOGE/USD is changing hands at $0.0065 at the time of writing against $0.0033 on August 15. DOGE/BTC upside trend is even more impressive as the coin has nearly tripled in value against the digital currency No. 1.

"Dogecoin may have started as a joke, but their community is now the envy of the crypto world," Kevin Rooke, a Canadian cryptocurrency researcher, wrote in his Twitter account.

These words are probably the most interesting reflection of what's going on the cryptocurrency market.

Since its inception the joke cryptocurrency has become a popular coin for micro-transactions, tipping, and gifting. Thanks to an ever-growing community, there are millions of dollars flowing through the Dogecoin network on a daily basis. 

DOGE/USD, the daily chart

Get 24/7 Crypto updates in our social media channels: Give us a follow at @FXSCrypto and our FXStreet Crypto Trading Telegram channel

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

War for dominance hit the bedrock of the market

The cryptocurrency market reaches the end of the week with widespread declines in the crypto market. The week has been dominated by a boiling Altcoin segment that has set very significant rises.

More Bitcoin News

BCH/USD in retreat after gaining 7% in a matter of minutes

Bitcoin Cash (BCH) is still in a red zone on a day-to-day basis; however, the coin recovered strongly from the intraday low of $232.60 and hit $240.00 in a matter of minutes. At the time of writing, BCH/USD is changing hands at $237.00.

More Bitcoin Cash News

ADA/USD extends the decline, $0.1000 at risk

Cardano (ADA) extended the decline and hit $0.1102 on Friday. The coin has lost 20% from the peak of $0.1386 reached on July 8. At the time of writing, ADA/USD is changing hands at $0.1120, down 9% in the recent 24 hours.

More Cardano News

ETH/USD volatility ousted as DeFi skyrockets to $2 billion

Ethereum alongside the largest cryptocurrency, Bitcoin are dealing with a peculiar situation characterized by low trading volume, poor investor interest as well as the lack of catalysts.

More Ethereum News


Bitcoin Weekly Forecast: BTC volatility drops to a year low, get ready for a spiral drive

The week was tough for the cryptocurrency markets confined to tight ranges. Bitcoin has lost 1% of its value during the recent seven days with the trading range limited by $9,298 on the upside and $8,933 on the downside.

Read the weekly forecast