Dogecoin crawl - DOGE slips to 9th Market cap position down 18% last month
The infamous dogecoin was one of the first digital currencies based on memes and it is safe to say that the coin inspired a myriad of token (s) of joke intended to be used for fun. However, while dogecoin has seen phenomenal growth in 2021 of 8,515% in 12 months, over 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 largest position in the market after price Highs lower, 67% down from ATH
At the start of the year, many people have said that "you can't keep a good dog down" after the dogecoin (DOGE) started its triumphant price spike and continued to rise month on month. Thisst 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 mentions , and a few tweets from Elon Musk, dogecoin hit a record high of $ 0.731 per coin on May 8, 2021.
From more, this week historical data a > show that dogecoin (DOGE) held the fourth largest market cap on May 9. At the time, the DOGE market cap was above ADA , with $ 73.8 billion that week. However, the $ 0.73 high didn't last long and the following week historical metrics indicate that DOGE has slipped to the fifth largest market cap with cardano ( ADA ) taking the lead again on May 16. Today DOGE markets have not performed as well and memes-based cryptocurrency assets are down 67% off its record price.
Dogecoin 30-Day Values Slide 18%, the mysterious whale Dogecoin 'DH5y ' still holds over 36 billion DOGE
Dogecoin has a huge circulating supply of 131,282,808,198 today and it still has whales that have a large percentage of this supply. The infamous dogecoin address " DH5y "holds a 36.7 billion DOGE today. On Tuesday, the Global Dogecoin Market (DOGE) valuation is $ 31.3 billion and the global dogecoin trading volume is around $ 1.1 billion. Metri cs shows that USDT is the biggest pair traded with DOGE on Tuesday, as 70% of all dogecoin swaps are traded with tethers.
USDT / Volumes DOGE are followed by USD (11.41%), BUSD (5.33%), BTC (5.21%), and TRY (3.17%). The main exchange that has Seen the most dogecoin action on Tuesday is Coinbase, followed by Kraken.Raphiques Liquid, Bittrex and FTX follow 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 statistics for DOGE recorded a loss of 12.1%, the 30-day statistics indicate that the fiat value of dogecoin fell 18.2%.
What to think you of the lackluster action of the dogecoin market and how the meme-coin slipped to ninth position in terms of market cap? Let us know what you think of this topic in the comments section below.