2 years ago
After a salient emergence past year, 2022 has not been excessively benignant to the apical meme coin plus dogecoin. Currently, the begetter of the meme coin economy, dogecoin, has mislaid 91% successful worth since the crypto asset’s all-time high. Despite the drop, dogecoin is inactive a apical 10 contender among the largest crypto marketplace valuations today.
The Dogecoin Dog Days — Meme Token King Sheds Significant Value
Dogecoin fans person been watching the largest meme coin plus plummet successful worth week aft week. While it is inactive a apical 10 cryptocurrency, dogecoin (DOGE) has mislaid a batch of worth since the asset’s all-time precocious connected May 8, 2021. Over a twelvemonth agone today, DOGE exchanged hands for $0.739 per portion and contiguous the 24-hour terms scope for DOGE has been betwixt $0.064 to $0.072 per coin.
On Sunday, June 12, 2022, there’s $567 cardinal successful worldwide DOGE commercialized measurement during the past 24 hours. Dogecoin’s marketplace valuation contiguous is $8.68 cardinal which equates to 0.755% of the $1.15 trillion crypto economy. While being the tenth largest marketplace cap, DOGE is beneath solana (SOL) and conscionable supra polkadot (DOT) successful presumption of marketplace positions.
While 91% down from the all-time precocious is beauteous significant, DOGE is inactive up a whopping 75,260% since the asset’s all-time debased connected May 6, 2015. At that time, 7 years agone today, DOGE was trading for $0.00008690 per unit. Dogecoin’s caller marketplace show has not been truthful optimistic arsenic 12-month stats amusement DOGE is down 79.3%.
DOGE mislaid 21% successful 30 days, and 19.9% of that percent was removed during the past 2 weeks. Today, the full meme-coin system is valued astatine $14.4 cardinal and DOGE equates to 60.27% of that value. The remainder is occupied by shiba inu (SHIB) and the myriad of meme coin cryptos that were calved during the past year.
Additionally, DOGE mining gross mislaid much than 76% past year. Out of 15 antithetic mineable crypto assets, DOGE is the 11th astir profitable connected the list. DOGE miners reached a hashrate all-time precocious connected April 23, 2022, astatine artifact tallness 4,196,514 erstwhile it reached 1.34 petahash per 2nd (PH/s).
Today, the DOGE hashrate is coasting on astatine 362.97 terahash per 2nd (TH/s), which is simply a 72.91% driblet from the 1.34 PH/s high. Both DOGE mining gross and the wide hashrate plummeted a large woody during the past 2 months. While DOGE has been down successful worth a large deal, it’s not the meme coin’s archetypal carnivore market.
DOGE has been done hard times implicit the past decennary and it volition arguably past longer than immoderate of the newer meme coin assets that were created during the past 12 months. The lone different meme coin that comes adjacent to DOGE is shiba inu (SHIB) with its $5.15 cardinal marketplace valuation.
What bash you deliberation astir DOGE falling successful worth during the past twelvemonth and the hashrate dropping since April? Let america cognize what you deliberation astir this taxable successful the comments conception below.
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