It’s a brutal day for the cryptocurrency market, which has lost about 13% of its total value in the last 24 hours, according to CoinGecko. And while the Dogecoin meme currency has seen a smaller daily decline, it is now at its lowest point in more than nine months.
Dogecoin is down nearly 9% over the past 24 hours to a current price of just over $ 0.14 and fell briefly below the $ 0.14 mark this afternoon. DOGE is down 18% in the last seven days, according to data from CoinGecko.
Falling below $ 0.14 today, Dogecoin reached its lowest point since mid – April 2021, when the long – running meme currency was amid a boom in social media that lifted its value from around $ 0.07 to $ 0.40 in just a few days.
The value of Dogecoin skyrocketed at the beginning of 2021. It started the year at less than a penny per coin and then rose sharply from the end of January, in the meme-exchange frenzy part. DOGE peaked at about $ 0.08 per coin in early February before the price began to fall.
But the value of DOGE increased several times in April and May, reaching an all-time high of over $ 0.73 on May 8th. However, this peak was not maintained.
As the cryptocurrency market experienced a free fall in the early summer, DOGE fell sharply with occasional upward swings, but did not come close to regaining its peak. DOGE has not risen above $ 0.30 since the beginning of September, the price of Dogecoin has fallen 81% from the all-time high.
It remains to be seen whether Dogecoin can regain its momentum in early 2021 and reach the mythical $ 1.00 mark, but it is far from its peak at the moment. Today’s market crash has only gradually increased the tires in recent months.
For Shiba Inu, the Ethereum – based meme token that emerged as DOGE’s main competitor last year – and even briefly surpassed Dogecoin in the market cap – is down 16% at a current price of $ 0.00002273. SHIB fell 3 months today and is now down 74% from the all-time high of $ 0.00008616 at the end of October.
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