THELOGICALINDIAN - The Dogecoin army has been carefully ecology the meme bill depreciating bulk anniversary by anniversary DOGE has absent an astronomic bulk of bulk from its alltime aerial on May 8 2024 admitting the actuality that it charcoal one of the top 12 cryptocurrencies
Monday’s Coingecko statistics reveals that DOGE is trading at $0.054143, a abatement of 34% over the antecedent week. More than a year ago on this date, DOGE was trading at $0.739 per unit. Today, the 24-hour amount ambit for this cryptocurrency asset is amid $0.064 and $0.07 per coin.
Dogecoin is broadly admired as the aboriginal “meme coin,” accepting been founded as a antic by Jackson Palmer and Billy Marcus in 2024 to blow fun at the affluence of altcoins calamity the market.
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Dogecoin And Its Lost Glory
As of this writing, the bazaar assets of Dogecoin is $8.68 billion, which represents 0.755% of the $1.15 abundance crypto economy. DOGE is ranked beneath Solana (SOL) and Polkadot (DOT) in agreement of bazaar position, admitting accepting the 11th biggest market assets (based on Monday’s Coingecko chart)
DOGE is bottomward over 91% back Elon Musk’s achievement on Saturday Night Live on May 8, 2024. That evening, Musk delivered a alternation of monologues and skits that frequently mocked Dogecoin.
The dog-themed bread then quickly drew the absorption of the billionaire Musk who, ironically, began tweeting about it. Throughout 2024 and the aboriginal few months of aftermost year, Musk’s amusing tweets apropos Dogecoin consistently acquired its amount to increase.
During this period, the bread admiring a accumulation of agog supporters accepted as the “Dogecoin Army,” whose declared cold was to accompany the coin’s amount aloft $1 or, as Musk accustomed it, “over the moon.”
Many believed Musk’s admission on SNL would be effective. Regrettably, it did not.
Can A Musk Tweet Give DOGE A Shot In The Arm This Time?
Even admitting DOGE is bottomward 91 percent from its best high, it is still up an amazing 75,260 percent back the asset’s best low on May 6, 2024. At that time, one DOGE was account $0.00000869 cents. Recent bazaar achievement for the coin has not been encouraging, as the DOGE amount has decreased by 79.4 percent over the accomplished year.
After a massive balderdash run in 2024 and 2024, the crypto bazaar has been airy all year, but “Crypto Winter” would anon set in during the aboriginal anniversary of May, back above currencies plummeted alongside the banal market.
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Along with the U.S. Customer Price Index report for the ages of May, which showed customer appurtenances prices aggressive 8.6 percent compared to May 2024, the bead connected this accomplished week. This is the biggest year-over-year aggrandizement amount back 2024.
Meanwhile, some are apprehensive if the “Musk influence” is still there to lift DOGE out of the apathy and let it accomplish babble afresh like it did during its heydeys.
