Friday, January 9, 2015

submitted  by DogeHustletycoon doge
Current price: 60/59 satoshi /$.000168 USD/ .0001043 CNY/ 24 hr volume: $337,235 USD/ 2,090,290 CNY / 24hr transactions: 20,611 which is a total of $18,733,356 USD
Satoshi price is steady, USD price down slightly and trading volume $60,000 less than yesterday. Our transaction volume is up by about $5 million!
The lowest price point that Dogecoin has ever hit was around .000110 USD on 08/19/14 of last year. This came during a market crash and was around the time when it was questionable how we would secure our hashing power.
We had two peak price points of .00180 USD on 01/24/14 and 02/12/14. Since then we have more coins in circulation to account for the lower prices. The entire crypto markets are in a sluggish bear trend, we just happen to be a wave in a bigger pool.
Our prices are actually quite stable at the moment, which may be the result of low trading/ high transaction volume. Our markets are working better as a currency rather than a speculative commodity. I wouldn't be surprised to see our prices rally when trading volume picks up.
Also the reason why Bitcoin and Litecoin has really high trading volume is because of leverage. Their traders can usually borrow up to 20x their principal amount, which adds more liquidity. The Chinese exchanges also have a zero fee platform which can lead to volume manipulation through wash trading (buying and selling your own orders).
Margin trading would attract more serious traders into the Dogecoin space and add volume but it also comes with a cost. It's a high risk trading strategy because you can lose all your coins on a margin call (when the price moves against you to the point where the losses eat away at your principal amount). The benefit is that it would easily quadruple our volume and provide less risk adverse Shibes to lend out Dogecoin and gain interest. It's a double edged sword but when Dogecoin grows, it will be inevitable.


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