Dogecoin’s Four-Legged Fall — DOGE Slides to 9th Market Cap Position Dropping 18% Last Month

The infamous dogecoin was one of the first meme-based digital currencies and it’s safe to say that the coin inspired a myriad of meme-focused or joke tokens meant to be used for fun. However, while dogecoin has had a phenomenal 2021 rising 8,515% in 12 months, during the last month dogecoin prices have stagnated a great deal. At one time, dogecoin held the fourth largest market capitalization but today, the original meme-coin’s overall market valuation has slid to the ninth position.

Dogecoin Slips to the Ninth Largest Market Position After Price Highs Subside, 67% Down From ATH

Moreover, that week historical data shows that dogecoin (DOGE) held the fourth largest market cap on May 9. At the time, the DOGE market cap was above ADA’s overall market valuation, with $73.8 billion that week. However, the $0.73 high did not last long and by the following week, historical metrics indicate that DOGE slid to the fifth largest market capitalization with cardano (ADA) once again taking the lead on May 16. Today, DOGE markets have not been performing so hot and the meme-based crypto asset is down 67% from its all-time price high.

Dogecoin 30-Day Values Slide 18%, Mysterious ‘DH5y’ Dogecoin Whale Still Holds Over 36 Billion DOGE

USDT/DOGE volumes are followed by USD (11.41%), BUSD (5.33%), BTC (5.21%), and TRY (3.17%). The top exchange seeing the most dogecoin action on Tuesday is Coinbase, followed by Kraken. Liquid, Bittrex, and FTX crypto exchanges follow Coinbase and Kraken dogecoin trade volumes, respectively. Dogecoin holders have seen their assets slide by 4.8% in the last day alone and 22.7% during the last week. While 14-day stats for DOGE saw a 12.1% loss, 30-day stats indicate dogecoin’s fiat value shed 18.2%.

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