Dogecoin (CRYPTO: DOGE) dropped 7.4% to $0.08 over 24 hours leading up to early Thursday morning.
DOGE slid alongside other major coins as the global cryptocurrency market cap declined 3.1% to $1.1 trillion.
| 24-hour | -7.4% |
| 24-hour against Bitcoin | -4.3% |
| 24-hour against Ethereum | -3.8% |
| 7-day | 12.9% |
| 30-day | 22.6% |
| YTD performance | -53.4% |
See Also: How To Get Free Crypto
The DOGE Factors
- Dogecoin was among the most-mentioned coins on Twitter (NYSE:TWTR) at press time, according to Cointrendz data. The three most-mentioned coins were Bitcoin, Ethereum, and XRP. DOGE was also seen trending on CoinMarketCap.
- The 24-hour trading volume for Dogecoin dropped 58.4% to $819.16 million at press time, according to CoinMarketCap.
- Coinglass data indicated that $4.24 million worth of DOGE were liquidated over 24 hours as the price of the memecoin dropped.
- Dogecoin’s relative strength index was at 62.05 at press time, according to TradingView. If an asset has an RSI above 70, it is thought to be overbought, and below 30, it is thought to be oversold.
Risk Assets Hit By Inflation Worries Minutes released from the July policy meeting of the U.S. Federal Reserve indicate that the central bank would maintain its hawkish course until inflation drops significantly. Uphold’s head of blockchain research Martin Hiesboeck said the apex coin could still be in for a “big dump” by September.
Expectations Vs. Reality Dogecoin co-creator Billy Markus noted the disparity between the fact that “Dogecoin” was trending and its price action on Wednesday.
oh huh #dogecoin is trending it must just be kicking buttDOGE On The Web DOGE developer Michi Lumin said the “current goal” for “Libdogecoin” is to increase “portability and compatibility.”oh pic.twitter.com/jhNhMc4339
— Shibetoshi Nakamoto (@BillyM2k) August 17, 2022
In other news, my current goal personally for #libdogecoin this "sprint" is to increase portability and compatibility. Already spent all night last night getting rid of some syntax that pins it to the C99 and C11 stds, hopefully soon it'll compile on the simplest of machines.Libdogecoin is a C library that enables direct integration of Dogecoin across platforms.— Michi Lumin (@michilumin) August 16, 2022
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