Making a timely comeback in the limelight is Dogecoin after it made an astounding move in the market charts, giving hope to the altcoin that was in big trouble for the past few months.
The DOGE market cap leaped Wednesday by more than a couple of millions within 24 hours, reaching around US$13.5 million after dipping to roughly $10 million from the previous day.
While this jump is certainly a welcome development or rather a much-needed boost for the altcoin, it cannot be helped by its community and speculators to question whether or not this will be the start of Dogecoin’s recovery or it is simply temporary.
Regardless of the speculations, however, the spike in the DOGE market cap can be perceived as a sign that Dogecoin gambling may very well be back in the game and encourage more bettors to play and more entrepreneurs to set up a Dogecoin-powered gambling platform.
Should this be the case, established Dogecoin casinos and betting websites in the market are the first to benefit. Online poker room PokerShibes is expected to expand its market, especially now that poker continues to become a huge hit among enthusiasts from all over the world.
Although the number of gambling platforms that run on Dogecoin is already significant, but still not at par with that of Bitcoin gambling, the renewed spark in the shibes and their coin can be instrumental in the growth of this niche market.
Meanwhile, the sudden spike in its market cap is reported to may have been attributed to certain events, including GoCoin’s expansion of its Bitcoin, Litecoin, and Dogecoin services to more than 1,000 businesses internationally, BTCTrip’s acceptance of the altcoin for online flight and hotel bookings, the release of a new client, and possibly even its merge mining with Litecoin.