After a outstanding rise final 12 months, 2022 has not been too variety to the highest meme coin asset dogecoin. Presently, the daddy of the meme coin economic system, dogecoin, has misplaced 91% in worth for the reason that crypto asset’s all-time excessive. Regardless of the drop, dogecoin continues to be a prime ten contender among the many largest crypto market valuations right now.
The Dogecoin Canine Days — Meme Token King Sheds Vital Worth
Dogecoin followers have been watching the biggest meme coin asset plummet in worth week after week. Whereas it’s nonetheless a prime ten cryptocurrency, dogecoin (DOGE) has misplaced loads of worth for the reason that asset’s all-time excessive on Could 8, 2021. Over a 12 months in the past right now, DOGE exchanged palms for $0.739 per unit and right now the 24-hour value vary for DOGE has been between $0.064 to $0.072 per coin.
On Sunday, June 12, 2022, there’s $567 million in worldwide DOGE commerce quantity through the previous 24 hours. Dogecoin’s market valuation right now is $8.68 billion which equates to 0.755% of the $1.15 trillion crypto economic system. Whereas being the tenth largest market cap, DOGE is under solana (SOL) and simply above polkadot (DOT) by way of market positions.
Whereas 91% down from the all-time excessive is fairly vital, DOGE continues to be up a whopping 75,260% for the reason that asset’s all-time low on Could 6, 2015. At the moment, seven years in the past right now, DOGE was buying and selling for $0.00008690 per unit. Dogecoin’s latest market efficiency has not been so optimistic as 12-month stats present DOGE is down 79.3%.
DOGE misplaced 21% in 30 days, and 19.9% of that share was eliminated through the previous two weeks. At the moment, your entire meme-coin economic system is valued at $14.4 billion and DOGE equates to 60.27% of that worth. The remainder is occupied by shiba inu (SHIB) and the myriad of meme coin cryptos that have been born through the previous 12 months.
Moreover, DOGE mining income misplaced greater than 76% final 12 months. Out of 15 totally different mineable crypto belongings, DOGE is the eleventh most worthwhile on the listing. DOGE miners reached a hashrate all-time excessive on April 23, 2022, at block top 4,196,514 when it reached 1.34 petahash per second (PH/s).
At the moment, the DOGE hashrate is coasting alongside at 362.97 terahash per second (TH/s), which is a 72.91% drop from the 1.34 PH/s excessive. Each DOGE mining income and the general hashrate plummeted a terrific deal through the previous two months. Whereas DOGE has been down in worth a terrific deal, it’s not the meme coin’s first bear market.
DOGE has been via tough instances over the past decade and it’ll arguably survive longer than a few of the newer meme coin belongings that have been created over the past 12 months. The one different meme coin that comes near DOGE is shiba inu (SHIB) with its $5.15 billion market valuation.
What do you concentrate on DOGE falling in worth over the past 12 months and the hashrate dropping since April? Tell us what you concentrate on this topic within the feedback part under.
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