December has historically been a good month for crypto, but given the macroeconomic conditions and the recent collapse of FTX, the market is extremely volatile. Dogecoin (DOGE) and Orbeon Protocol (ORBN) are among the few coins that have shown positive price action, whilst most other cryptos are currently trading sideways or downwards. Notably, Orbeon Protocol is now in its third phase of presale, and has already seen a 655% price increase in a matter of weeks.
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Why is Dogecoin outperforming the market?
Like most cryptocurrencies, DOGE got hit in the summer and was trading at around $0.06 that is until the now somewhat infamous sale of Twitter to Elon Musk went through. Speculation that Musk will integrate Dogecoin with Twitter caused the price to skyrocket to $0.14 on the 2nd November.
The subsequent collapse of FTX erased some of the gains but as of writing Dogecoin is trading at $0.09, which is still a very healthy increase from its summer lows. Another factor is that whilst famous tech leaker Jane Wong tweeted that Twitter was working on a crypto wallet, just prior to Musk’s acquisition, a few days later Casey Newton reported that plans at Twitter for a crypto wallet integration have been put on hold.
Nevertheless, Musk has added fuel to the fire that Dogecoin may be integrated with Twitter with various leaks and tweets, and by saying “It is kind of a no-brainer for Twitter to have payments, both fiat and crypto.” on a recent Twitter spaces session. Since you can buy merch using Dogecoin from Tesla and Space,. Twitter has been alive with DOGE fans buying dog whistles for 1000 Doge, with some noting that the payment system is not as well built as it could be, but eventually it works.
As Dogecoin is a fork of litecoin, it does not have the capability to interact with smart contracts so it may well be that Musk creates a ‘Twitter Coin’ as well, to increase functionality.
Perhaps trying to capitalise on the news, a team of developers have now created an EVM compatible blockchain for DOGE, however, due to the above technical limitations, this chain actually uses a wrapped form of DOGE and will require bridging. The team plans to airdrop wrapped Dogecoin to Dogecoin holders.
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Investors can’t get enough of Orbeon Protocol
Orbeon Protocol allows anyone to easily invest in vetted startups at their early stages. Aiming to democratize the previously exclusive VC industry, Orbeon Protocol functions as a decentralized investment platform that allows startups to raise money more efficiently and quickly, while everyday investors get the chance to support them.
The platform uses equity-based NFTs as a form of investment. These fractionalized NFTs are available from as low as $1, and their value changes in real time to reflect the success of the startup that issued them.
ORBN, the project’s native token, has seen immense demand during presale as the transactional token of this successful project. With benefits like staking bonuses and transaction fee discounts for holders, ORBN is set to launch at the end of January and experts are predicting as high as a 6000% price increase, as the price has already risen from $0.004 to $0.030.
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