Skip to main content

Dogecoin Sheds 67% Since Price High — Meme Token’s 12 Month Market Stats Still Outshined BTC

The notorious meme crypto asset dogecoin has seen better days, as the digital currency tapped an all-time high (ATH) two months ago at $0.737 per unit. Today, dogecoin is down 67% since the ATH and over 30% during the last three months as interest in the dog meme coin is waning.

Dogecoin Interest Dives, Meme-Token’s Value Down 67% Since ATH

Worldwide interest in DOGE is slipping, as the search query “dogecoin” on Google Trends (GT) has slid from an ATH in interest. Dogecoin lost 79% by scoring a 100 in the second week of May to this week’s score of 21.

Dogecoin Sheds 67% Since Price High - Meme Token’s 12 Month Market Stats Still Outshined BTC
Google Trends (GT) data for the search query “dogecoin” on June 25, 2021.

The search query for the term “DOGE” globally shows similar findings, as interest seems to be dropping across the board. Today, the most interested countries searching the term “dogecoin” on Google, according to GT data includes the U.S., Turkey, Canada, Singapore, and the Netherlands.

Dogecoin’s price has dropped significantly during the last month and during the course of the week. At $0.23 per unit, DOGE is down over 16% during the last week and down 30% against the U.S. dollar last month.

Dogecoin Sheds 67% Since Price High - Meme Token’s 12 Month Market Stats Still Outshined BTC
One-week dogecoin (DOGE/USDT) chart via bitcoinwisdom.io.

Dogecoin’s market capitalization was massive at one point in May and it ate into bitcoin’s (BTC) market dominance. Today, the market capitalization of dogecoin (DOGE) is around $31 billion. On Friday afternoon on June 25, dogecoin trade volume was around $5.3 billion in global swaps.

The most swapped coin with dogecoin today is tether (USDT), which commands 73% of today’s DOGE swaps. This is followed by BTC (6.29%), USD (6.23%), BUSD (4.85%), and the Turkish lira (TRY) with 3.79% of all the dogecoin swaps on Friday. Dogecoin is only down 7% on Friday, which is a lot less than most crypto asset percentage losses among all 9,000+ coins.

Elon’s Maxi Tweet Attributed to Dogecoin Staving Off Losses, 12 Month Stats Show DOGE Remains Up 9,739%

Some reports have said Elon Musk’s recent “bitcoin maxi” tweet, pushed the price of dogecoin higher. However, Musk hasn’t been tweeting about dogecoin, at least as much as he had been prior to his Saturday Night Live (SNL) appearance.

Despite being 67% down since its price ATH, DOGE has a ways to go to shed long-term gains. Against the USD, dogecoin is still up 335% during the last three months, and 661% against BTC during that same time frame. 12-month stats against the U.S. dollar show dogecoin is still up a whopping 9,739% to date.

Leading coins like bitcoin (BTC) and ethereum (ETH) have seen nowhere near the 12 month gains DOGE has seen, but with a low of 67% down from its ATH, some dogecoin owners are definitely holding on to heavier bags.

What do you think about dogecoin’s recent downward spiral? Let us know what you think about this subject in the comments section below.



from Bitcoin News https://ift.tt/2UGDMsX
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...
10 comments
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought...
Post a Comment
Read more

2021 Bitcoin Price Predictions: Analysts Forecast BTC Values Will Range Between Zero to $600K

As bitcoin has touched new price highs on Thursday nearing the $50k handle, people have been curious as to where the price will go in the future. Meanwhile, despite the gains so far, a number of luminaries, analysts, executives, and proponents from the crypto space believe the leading crypto asset will reach between $60k to six-digits this year. Mike Novogratz Predicts $100K Bitcoin: ‘Other CFOs and CEOs Are Saying, What Should We Be Doing?’ Satoshi Nakamoto’s invention has gained mass appeal in recent times as the leading digital asset bitcoin ( BTC ) has reached its highest value ever in 2021. On Thursday morning (EST), BTC spiked to an all-time high (ATH) at $48,697 per unit. Earlier in the morning at around 2 a.m., bitcoin was exchanging hands for $44,485 and saw an 8.98% increase since then. At the time of publication, at 6:30 p.m. (EST) on February 11, 2021, bitcoin (BTC) is swapping for $47,821 per coin. With BTC so close to the $50k mark, people have been forecasting ...
Post a Comment
Read more