DOGE Drops To Lowest Price In Nine Months With The Market Crashing

DOGE drops to lowest price level in nine months as the entire market is slowly crashing down so let’s take a closer look at today’s Dogecoin news.

The original meme coin got down by 81% from its all-time high back in May 2021 and it has continued its decline in value. DOGE drops to lowest price in nine months below $0.14 today and the coin that soared in price in 2021, is now down by 81% from its peak. It is quite a brutal day for the crypto market which shed about 13% of its overall value in the past 24 hours and while the especially volatile meme coin DOGE hasn’t seen a lesser daily dip, it is now at its lowest point in more than nine months.

DOGE is down 9% in the past 24 hours to a price above $0.14 as of the writing and dipped below the $0.14 mark this afternoon. DOGE dropped 18% over the past week according to the data from CoinGEcko. Dropping under $0.14 today, DOGE reached its lowest point since mid-April 2021 when the meme coin was in the middle of the social media-fueled surge that took value from $0.07 to $0.40 in a few days. DOGE saw an immense rise in value during early 2021 and it started the year priced at less than one penny per coin and then increased dramatically in January as a part of the wider meme stock trading craze. Doge surged to a peak of $0.08 per coin before the price started to decline.

DOGE’s value multiplied a few times further in April and May and eventually reached an all-time high above $0.73 but the peak wouldn’t hold. As the wider market entered an early summer-fall, DOGE dropped hard with some occasions upward swings but never came close to reaching its top. According to Coingecko, DOGE hasn’t been above $0.30 since September. As of the time of writing, DOGE’s price dropped 81% since marking its high.

DOGE was created as a joke in 2013 and gained serious value in 2021 as millions of investors entered the crypto. It found other fans like Mark Cuban and Elon Musk who pumped the value to the coin via their tweets. It also boosted Robinhood’s crypto business but the company warned of the risks of relying on volatile coins. Whether Dogecoin is able to regain its early 2021 momentum and reach the $1.00 milestone, remains to be seen but now it dropped from its peak. Today’s wider market crash only showed the coin’s gradual decline in the past few months. As for Shiba Inu, the ETH-based meme coin that emerged as DOGE’s main rival a year ago and surpassed DOGE in markets cap while it is down by 16% at a current price of $0.00002273. SHIB hit a three-month low and it is now down 74% from late October’s all-time high of $0.00008616.

Source: https://www.dcforecasts.com/dogecoin-news/doge-drops-to-lowest-price-in-nine-months-with-the-market-crashing/