The infamous meme crypto asset Dogecoin has seen better days when the digital currency hit an all-time high (ATH) two months ago at $ 0.737 per unit. Today, Dogecoin is down 67% since the ATH and is down over 30% in the past three months as interest in the dog meme coin wanes.
Dogecoin interest drops, meme tokens have been worth ATH since. down 67%
The worldwide interest in DOGE is waning because the search query “dogecoin” on Google Trends (GT) has slipped from an ATH interest. Dogecoin lost 79% by hitting a 100 in the second week of May, up from 21 that week.
The search query for the term “DOGE” shows similar results worldwide, as interest seems to be waning across the board. The most interested countries looking for GT data for the term “Dogecoin” on Google today include the US, Turkey, Canada, Singapore and the Netherlands.
The price of Dogecoin has fallen significantly in the last month and over the course of the week. At $ 0.23 per unit, DOGE is down more than 16% last week and 30% last month against the US dollar.
Dogecoin’s market cap was massive at one point in May and has eaten up Bitcoin’s (BTC) market dominance. Today, Dogecoin (DOGE) market capitalization is around $ 31 billion. On Friday afternoon June 25th, Dogecoin traded around $ 5.3 billion in global swaps.
The most common coin exchanged for Dogecoin today is Tether (USDT), which dominates 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 Dogecoin swaps on Friday. Dogecoin was only down 7% on Friday, which is much less than most of the crypto asset percentage losses among all of the 9,000+ coins.
Elon’s maxi tweet traced back to Dogecoin warding off losses, 12 month stats show DOGE is up 9.739%
Some reports say that Elon Musk recently “Bitcoin Maxi” tweet, pushed the price of Dogecoin up. Musk hasn’t tweeted about Dogecoin, however, at least not as much as he did before he appeared on Saturday Night Live (SNL).
Although DOGE is down 67% since its ATH price, it does have a way to squeeze long-term profits. Dogecoin is still up 335% against the USD in the past three months and 661% against BTC over the same period. 12-month statistics against the US dollar show Dogecoin is still up a whopping 9.739% to date.
Leading coins like Bitcoin (BTC) and Ethereum (ETH) have nowhere near seen the 12-month gains that DOGE has seen, but with a 67% low from its ATH, some Dogecoin owners are definitely sticking to heavier bags.
What do you think of Dogecoin’s recent downward spiral? Let us know what you think on this matter in the comments below.
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