DogeCoin and Ethereum Successfully Connected. DOGE +12% While The Market Falls - Saturday, September 8
Important DogeCoin News
Doge and Ethereum Successfully Connected
Introducing Dogethereum solution has been a great step towards wider adaptation of Dogecoin, which already has relatively high utility compared to other cryptocurrencies, as DOGE thanks to being light, fast and cheap has been used by many for small payments and especially tips and donations all over the Internet.
Dogethereum enables the convenient flow of DOGE coins in and out of the Ethereum network. Users can exchange their DOGE for tokens built on Ethereum and then get their DOGE back via the smart contract, opening up possibilities for using various dApps by DOGE holders.
On September 5th, the feature has been tested and the results were very positive. Dogecoin tweeted: "We don’t regularly do technical content off this account, but as a lot of people are asking – there was a demo of the bridge today and yes it worked"
DOGE Going Up Despite Whole Market Falling Down
While in many cases price of the altcoin follows directly movements of top coins such as Bitcoin or Ethereum, Doge decided to go in the exactly opposite direction.
On September 5th Ethereum was trading for $284 and then it experienced a sudden drop to $218. During the same time DOGE was also affected by this negative cryptomarket movement and fell from $0.005 to $0.0048. However, on the same day it quickly recovered and raised to $0.005263, which might be because of the successful Doge-Ethereum Bridge test. Since then, the other coins were staying still in their lows, seeing losses of even up to 10%, while DogeCoin has fluctuated around $0.0049 with a slight upward trend, which increased on September 7th.
Today, the coin has managed to hit $0.005851 price mark and many people believe it's on its way to $0.007, as it was very close to achieve this last week, when the cryptocurrency market was recovering after its previous lows. However, no one expected that after this short recovery another fall was about to happen.
DOGE/USD Price Chart, Saturday September 8th:
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