Dogecoin’s four-legged fall DOGE slips to 9th position by market cap down 18% last month – Bitcoin Market News

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The infamous dogecoin was one of the first memes-based digital currencies and it is safe to say that the coin inspired a myriad of memes or joke-focused tokens meant to be used for fun. However, while dogecoin has seen phenomenal growth in 2021 of 8,515% in 12 months, in the last month dogecoin prices have stagnated a lot. At one point, dogecoin held the fourth largest market cap, but today the overall market valuation of the original meme-coin has slipped to ninth position.

Dogecoin slips to ninth position in market after price drop, 67% lower than ATH

Earlier this year, many people said that “you can’t keep a good dog down” after dogecoin (DOGE) started its triumphant price spike and continued to rise month after month. This is because dogecoin has been around for years, and for many of those years DOGE was trading for less than a US penny per unit. But thanks to a lot of social media activity, mainstream media headlines, celebrity and brand name mentions, and a few tweets from Elon Musk, dogecoin hit a record high of $ 0.731 per coin. May 8, 2021.

Additionally, this week’s historical data shows dogecoin (DOGE) held the fourth largest market cap on May 9. At the time, the DOGE market cap was above the overall market valuation of ADA, at $ 73.8 billion that week. However, the high of $ 0.73 did not last long and the following week historical metrics indicate DOGE slipped to the fifth largest market cap with cardano (ADA) taking the lead again on May 16. Today, the DOGE markets have not performed so well. hot and the memes-based crypto asset is down 67% from its all-time high.

30-Day Dogecoin Values ​​Slip 18%, Mysterious Whale ‘DH5y’ Dogecoin Still Holds Over 36 Billion DOGE

Dogecoin has a huge circulating supply of 131,282,808,198 today and it still has whales that own a large percentage of that supply. The infamous dogecoin address “DH5y” now holds 36.7 billion DOGE. On Tuesday, the overall dogecoin market valuation (DOGE) is $ 31.3 billion and the global dogecoin trading volume is around $ 1.1 billion. The measurements show that the USDT is the biggest pair traded with DOGE on Tuesday, as 70% of all dogecoin swaps are traded with ties.

USDT / DOGE volumes are followed by USD (11.41%), BUSD (5.33%), BTC (5.21%) and TRY (3.17%). The main exchange that saw the most dogecoin action on Tuesday is Coinbase, followed by Kraken. Crypto exchanges Liquid, Bittrex and FTX track the trading volumes of Dogecoin Coinbase and Kraken respectively. Dogecoin holders saw their assets drop 4.8% in the past day and 22.7% in the past week. While the 14-day stats for DOGE registered a loss of 12.1%, the 30-day stats show the fiat value of dogecoin lost 18.2%.

What do you think of the lackluster action in the dogecoin market and how the meme-coin has slipped to ninth position in terms of market cap? Let us know what you think of this topic in the comments section below.

Tags in this story Coinbase, Address DH5y, Doge, Doge Army, Doge Price, Doge value, dogecoin, Dogecoin, Dogecoin market, Dogecoin price, Dogecoin rise, Dogefather, four-legged dogs, Elon Doge, Elon Musk, elon musk doge, on all fours, Google Trends, Kraken, Musk Doge, SNL, USDT

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