Dogecoin (DOGE) Deflates By 22%, But Hype Still Remains

[emjay825]

Dogecoin, the well-known meme cryptocurrency that has swept across the web, has had an absolutely stellar week, with the price of the asset skyrocketing in value to the surprise of many investors.

As reported by Ethereum World News on Thursday, the price of the asset surged by 20% to $0.00313 as a result of the positive news surrounding a blockchain bridge between the Dogecoin and Ethereum chains. But in the days that followed, the asset continued even higher upwards, rising to a weekly high of $0.0065, as DOGE doubled in dollar values within a matter of a week.

Many analysts, commentators, and traders caught wind of this crypto asset’s absurd price action, with some jokingly noting that DOGE’s move was a precursor to “altcoin season” or the next bear market. But as the saying goes, “good things don’t last forever,” with the price of the asset seeing a pullback on Sunday morning. At the time of writing Dogecoin is down 20% on the day and has pulled back to ‘only’ 1/2 of a cent ($0.005). More!

[BBkssz]

I agree with you that this time the dog currency is in hype. But perhaps this is the horn of the bull market. Maybe this is a way to call for a whale. But I am not sure.