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- DOGE has lost approximately 18% as per the seven day statistics and 43% since the last month.
- Almost all dog inspired or rather meme cryptocurrencies seem to be in loss, with only a handful of them going positive this week.
- SHIB token depreciated by 15% this week.
The popular meme inspired cryptocurrency has been up by 5,578% since the last 12 months. Now only has Dogecoin multiplied its worth but has also triggered the dawn of several meme-related or to be specific canine-related cryptocurrencies. The meme crypto frenzy attracted billions of investments from all around the world. In addition to this, Dogecoin emerged as the top performer for the quarter with a return of 392% as per the most recent CoinMetrics report for Q2 2021. Despite Dogecoin’s 66% decline in May, it finished off the quarter with a triple-digit gain. In addition, DOGE’s fast growth is also visible on-chain. As per CoinMetrics, the number of addresses holding at least 1 DOGE increased from 3.09M on April 1st to over 3.7M on June 30th.
Dogecoin Falls to $0.17 From it’s All Time High of $0.737
However, despite DOGE’s immense growth in a year, the fact that it has suffered a 46.24% loss in its value is pretty concerning. Dogecoin most of its time trading under the dollar mark, but when compared to the world’s largest cryptocurrency, BTC, DOGE has still grown 1,551% over the last 12 months. On July 17, DOGE traded at $0.17 after trading at an all time high of $0.737. DOGE has lost more than 76% of the crypto asset’s all-time high. DOGE has lost approximately 18% as per the seven day statistics and 43% since the last month. Currently, DOGE is trading at $0.19 and is up by 10% in the last 24 hours.
Yooshi Goes up by 57% This Week
Despite DOGE’s price plummet, it still has a massive market capitalization of $24.78 billion and a daily trading volume of $260.05 million. Its so-called competitor, Shiba Inu has a much smaller market cap of $3.3 billion. SHIB depreciated by 15% this week. After Dogecoin, the cryptocurrency community was hyped up with the Baby Doge token, another Dogecoin spin-off. Although, a short time ago Baby Doge was almost unknown to the community but #babydoge was trending on twitter a few days ago, as Elon Musk once again ignited the meme crypto hype.
BABY DOGE itself has suffered a 63.2% loss this week. Almost all canine or rather meme cryptocurrencies seem to be in loss, with only a handful of them going positive this week. For instance, YOOSHI coin, has appreciated by a massive 57% this week. However, YOOSHI isn’t a canine crypto it is a frog inspired cryptocurrency. The yooshi token has a massive community of over 22,000 members and plans to create a metaverse and NFT platforms.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
