Dogecoin (DOGE) deflects 22%, but Hype still remains



Dogecoin, the famous cryptocurrant meme that has crossed the web, has had an absolutely stellar week, with the price of the good leaping to the stars in terms of surprise for many investors.

As reported by Ethereum World News on Thursday, the price of the asset rose 20% to $ 0.00313 as a result of positive news regarding a blockchain bridge between the Dogecoin and Ethereum chains. But in the days that followed, assets continued even higher, rising to a weekly high of $ 0.0065, as DOGE doubled in value dollars in a week.

Many analysts, commentators, and traders took the flight of this crypte of absurd asset price action, with some jokingly observing that DOGE's move was a forerunner of the "highland season" or the upcoming market for bears. But as the saying goes, "good things do not last forever", with the price of the good that sees a retreat on Sunday morning. At the time of writing Dogecoin decreased by 20% on the day and was reduced to "only" 1/2 of a cent ($ 0.005).

Courtesy of TradingView.com

Share price aside, the development and adoption of this resource is still a hot topic, with a variety of topics making DOGE an even more attractive investment.

Yahoo Finance adds support for doge trading

In an unexpected move, Yahoo Finance, one of the most popular finance-focused sites, revealed that it was adding support for the DOGE trade in its ecosystem. Yahoo Finance will introduce support for Dogecoin through its partnership with TradeIt, allowing IOS devices with its installed app to exchange BTC, ETH, LTC and DOGE directly on their mobile device.

Many were surprised by the mention of Dogecoin, but as previously mentioned, this move makes sense, since the "memecoin" is rooted as a fork of Litecoin, which is a relatively simple cryptocurrency when it comes to integration into services.

Yahoo Finance brings BTC, ETH, LTC Trading Support To Mobile Phones

Following the IOS release, Yahoo's New York-based branch noted that it will eventually add same support for Android and desktop in the weeks or months to come.

Many are confident that this new feature, which is available for most of Yahoo Finance's huge user base, will introduce millions of new individuals into the cryptosphere, which will trigger an influx of buying pressure.

"Doge4Amazon" Petit Garners 8,000 Signatures

In some circles, Dogecoin has become the currency of choice for microtransactions, suggestions for p2p and more, since it is easy to use, fast (1 minute blocks), economic (with a commission of the cent) and relatively stable.

As such, many project supporters have noted that it would be a great payment method for Amazon, which is publicly valued at nearly $ 1 trillion. To realize their dreams, a user with the name of Mark started a petition, asking Jeff Bezos and other Amazon executives to "accept the dogecoin as a payment method".

The petition reads:

Currently, Amazon does not accept cryptocurrencies as a payment method that alienates many people who do not have a traditional bank account … It's time that Amazon.com became one of the first big companies to see the power of Dogecoin and to accept it as a method of payment.

This hope of infection has evidently spread to the cryptic community, with over 8,000 people signing their name on the change.org petition. Although this may seem like an unattainable dream for now, many expect Amazon to accept cryptocurrencies one day, but it remains to be seen whether they will be Dogecoin, Bitcoin or any other variety of altcoin.

Dogethereum

What also drove this move seemed to be the development of Dogethereum, a sort of link between the Dogecoin and Ethereum blockchain which aims to introduce interoperability through an intelligent contract system and the code integration. But as indicated on the official Twitter page of Dogecoin, for now this bridge is only in its demo phase and will undoubtedly require more work before the eventual full release.




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