Dogecoin traded largely flat leading up to early Wednesday morning.
What’s Moving? The meme cryptocurrency was down 0.26% at $0.18 over 24 hours. DOGE has fallen 16.9% over a seven-day trailing basis.
DOGE traded 1% higher against Bitcoin and 0.31% higher against Ethereum over 24 hours.
Over the last 30 days, DOGE has fallen 34.56%, while over a 90-day period it has declined 29.91%.
Since the year began, DOGE has appreciated 3038.58%. It touched an all-time high of $0.74 in May.
Why Is It Moving? DOGE traded flat just like most other major coins at press time when the global cryptocurrency market cap decreased 0.76% to $2.36 trillion.
DOGE, along with rival meme coin Shiba Inu, traded lower Tuesday while Bitcoin had yet to find a bottom even though it traded above the $50K level.
Despite the lacklustre performance of DOGE, some are confident of the good boy’s abilities.
Dogecoin news handle “Mishaboar” on Twitter said that DOGE “is at the healthiest it has been in a long time.” The handle pointed to a string of tech updates to the meme coin’s network and said that a future upgrade could allow it to “build and expand” possibilities.
The truth is that #Dogecoin is at the healthiest it has been in a long time.The 1.14.4-1.14.6 releases are filling up tech debt we had accumulated. 1.21 will be a launchpad on top of which we can build and expand #Doge's possibilities.
Old dogs CAN learn new tricks, after all. pic.twitter.com/gKI42eHmBV
— Mishaboar (@mishaboar) December 7, 2021
Gokhshtein Media CEO David Gokhshtein said he still loves DOGE and hasn’t changed his opinion on it.
Still love $DOGE and haven’t changed my opinion on it.— David Gokhshtein (@davidgokhshtein) December 7, 2021
Meanwhile, DOGE co-creator Billy Markus took a more tongue-in-cheek approach on the recent fall in valuation.
it’s not a loss if you don’t sell pic.twitter.com/tn3sXwBeDb— Shibetoshi Nakamoto (@BillyM2k) December 7, 2021