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[Special Note: An earlier version of this article confused a wrong Bitcoin Talk thread as DogeCoinDark’s official thread. It seemingly led the article towards a wrong conclusion, saying that DCD is practically inactive. We deeply regret the error.]
DogeCoinDark, one of the many altcoins struggling to level up with top cryptocurrencies, recently encountered a volatile spike in its market cap — over 100%.
According to the available figures on coinmarketcap.com, Dogecoin’s “evil cousin” was lately valued around an ignorable 2 satoshi. Though in last few days, the coin’s Christmas came early with increased trading volume on Cryptsy. DogeCoinDark now stands around 12 satoshi, with its market cap hovering around $192k — a clear 100% rise.
An Overlong Calm before the Stormy Upsurge
DogeCoinDark entered trading around October last year with a minimal market cap of $24.5m on its head. Barring few little spikes, the cryptocurrency has remained near the same old level. Its last noted low before the volatile heightening was near $31.6m.
In the meantime, there is practically nothing happening in terms of fundamentals that could explain the impressive DogeCoinDark pump.
DogeCoinDark Price — Where it Goes Now?
The spike indeed opens up near-term opportunities for small traders, waiting to make a quick wipe at the trade market. At the same time, an equally thrilling dump can also burn many pockets. A trial trade though won’t hurt, especially when the price is still pretty low enough to mourn over losses (if there will be any).
DogeCoinDark is indeed not a scam. By the look of its value chart, it seems that someone has just injected life into this dark meme coin. It is now up to traders if they wish to extend its lifeline.
Disclaimer: Trading cryptocurrencies is a risky job. NewsBTC.com won’t be hold responsible for any losses incurred after following this article.
I suppose the updated wallet with built-in block explorer (by the crackshot dev team) and limited coin supply in contrast to Dogecoin couldn’t have anything to do with it, then?