The way up has not yet been found. In fact, Dogecoin has fallen a good 76% in recent times. But is that bad?
It’s quite a roller coaster ride: the price of the meme-based crypto asset Dogecoin. The past twelve months have been hectic, so to speak. The currency gained a good 5,500% against the US dollar. People who got in early have gotten pretty rich.
Dogecoin down 76%
The digital coin also spawned a number of new dog-themed cryptocurrencies in the past year. Think of Baby Doge for example. Amazingly, billions of euros have been spent on these coins. However, lately Dogecoin has not really done well. In the last three months, it lost 46% of its value.
If you stepped in a few months ago, it can hurt. But many people got in much earlier and still have good profits. Because despite being down 76% since the coin’s top, Dogecoin’s 12-month stats are still up over 5,000%.
For a long time, Dogecoin (DOGE) spent its life trading well below a US cent – from 2014 to January 2021. That was about to change. Incidentally, much to the co-creator’s dismay, DOGE has appreciated against the US dollar in the past year, by a whopping 5.578%.
Situation
Dogecoin has also risen massively against Bitcoin in recent months, namely 1,500%. Yet we see a downward trend and it does not stop just like that. On Saturday, July 17, dogecoin (DOGE) traded at $0.17 per unit after reaching $0.737 per unit two months ago. Seven-day stats show DOGE lost 18% this week, and 30-day stats show a loss of over 43% in the past month.
The digital currency is still worth a lot of money. The Market capitalization is significant at $23 billion.
.
