- The 10th biggest crypto coin by market cap, Dogecoin (DOGE), is down more than 10% in the last 24 hours.
- The price of DOGE has fallen to $0.1407 and has also weakened against Bitcoin (BTC) and Ethereum (ETH).
- It seems that the hype around Elon’s Twitter (NYSE:TWTR) acquisition has quietened down in the last 24 hours.
The 10th biggest crypto coin by market cap, Dogecoin (DOGE), is down more than 10% in the last 24 hours, according to CoinMarketCap.
The price of DOGE has fallen to $0.1407. Not only has DOGE weakened against the dollar, it has also weakened against Bitcoin (BTC) and Ethereum (ETH). DOGE has declined approximately 6.7% against BTC and around 6.57% against ETH.
Although the drop-in price in the last 24 hours is a trend that is repeated across all of the top 10 cryptocurrencies, DOGE had built up hype around it following Elon Musk’s announcement that he was interested in purchasing Twitter. The price of DOGE spiked yesterday following the confirmation that Twitter’s board unanimously accepted Musk’s buyout order.
The news around Musk’s Twitter acquisition saw the coin trending according to CoinMarketCap’s trending projects list, and is still included in the list. Currently it is the 6th most trending project.
Despite being the talk-of-the-town, DOGE has gone from being the biggest gainer of CoinMarketCap’s top 10 list yesterday to being the biggest loser today. It seems that the hype around Elon’s Twitter acquisition has quietened down in the last 24 hours as the crypto community moves on and looks for the next big trade opportunity.
Another sign that the publicity around DOGE has simmered off is the daily trading volume figure which has dropped by over 32% to around $4,022,785,733 in the last 24 hours. The market cap of DOGE is also down following the decrease in the coin’s price. The market cap for DOGE is around $18,729,292,987.