Dogecoin’s [DOGE] bright days over the last couple of weeks appear to be lasted as indicated by CoinMarketCap’s statistics revealing that the cryptocurrency has turned out to be the biggest loser off 50 top cryptocurrencies.
At press date, Dogecoin was $0.005 with a 8.14% bearish slide in 7 days. DOGE’s market cap is $661.543 million, it has $20.965 million market volume in 24 hours. The vast majority of DOGE’s volume for trading was from a Chinese cryptocurrency exchange, Gate.io. Holding a total volume of 12.58%, HitBTC is the second to Gate.io’s 20.68% with a bold contrast.
Two weeks from this day, Dogecoin hs become one of the top 20 cryptocurrencies outpacing Zcash’s market capitalization of $620 million when compared to Dogecoin’s $670 million cap.
In the past few days, Dogecoin’s creator Jackson Palmer interacted wit Elon Musk, resulting in flashing news regarding this cryptocurrency. Tesla’s CEO called out for stopping the spam bots on Twitter. Musk tweeted:
“@ummjackson if you can help get rid of the annoying scam spammers, that would be much appreciated.”
When the coin was added to a cryptocurrency exchange called Poloniex, it might have resulted in its spike. Analysts indicated that Dogethereum’s release might also be a contributing factor for this very increase.
As could be understood from its logo, this coin is infamous as a meme coin. ‘Doge’ meme is the base for it, characterized by Shiba Inu dogs with bad English skill sets. With numerous memes indicating the course, Dogecoin community members’ attitude with regard to the recent uprise in the price of the cryptocurrency was as such.
A Redditor, one of the eager fans of the cryptocurrency, who follows the tech space with ‘dead rail’, said:
“Honestly I’d be happy if dogecoin hit 50 cents to 3 bucks this year in q4 when all the coins rise. And if it hit 20 next year. Then if it got between 30-100 four to five years from now.Honestly 20 bucks a coins is what I’m hoping for in the future.”