Perhaps the most ubiquitous meme cryptocurrency on the market, Dogecoin (CCC:DOGE-USD) has seen its fair share of volatility of late. Indeed, since hitting a high of 74 cents earlier this year, DOGE currently trades at 25 cents. A range of Dogecoin (DOGE) crypto news has been responsible for this.
Indeed, various headwinds plaguing the cryptocurrency sector haven’t spared Dogecoin. Among these, crackdowns in China have poured cold water on the sector of late. Although it is smaller and more humor-focused, Dogecoin has suffered from new mining bans alongside rivals Bitcoin (CCC:BTC-USD) and Ethereum (CCC:ETH-USD).
Plus, Dogecoin has had its own set of headwinds.
DOGE has seen celebrity CEO Elon Musk step away from tweeting about Dogecoin going to the moon. And with so many other speculative short-squeeze plays available to retail investors, it appears crypto fans are divided with respect to where to put their money.
That said, Dogecoin does have an interesting catalyst coming up. Let’s dive in to see what all the commotion is about.
Dogecoin (DOGE) Crypto News
A new augmented reality game, The Million Doge Disco, enabling players to earn DOGE as well as various non-fungible tokens, is launching on July 3. This game was created by Gary Lachance, a DOGE investor willing to give away 1 million DOGE that he has held since 2014 as a way of promoting the game.
Now, from a business perspective, this is brilliant. Mr. Lachance appears to have purchased these coins in 2014, at a cost of around $300. Today, these coins are worth nearly approximately $250,000, and DOGE holders hope a lot more down the road.
The augmented reality features associated with The Million Doge Disco are reported to be similar to that of Pokémon Go. This game will be mobile-based, and allow players to find NFTs and DOGE artifacts spread across the map.
I have to hand it to the creators of this game. The Million Doge Disco sounds intriguing. For DOGE holders, any PR is good PR. Indeed, right now, Dogecoin needs whatever positive news flow it can muster.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.