Cryptocurrency
Cryptocurrencies Dogecoin, Ethereum and Bitcoin Crashing
Cryptocurrencies Dogecoin, Ethereum and Bitcoin that made buyer rich overnight are spiraling in a downward trend causing panic among some crypto traders. One day Dogcoin, Ethereum and Bitcoin were on top of the world, making headlines now they are on a downward spiral.
That’s the curse of DogeCoin which, along with Bitcoin, Ethereum and pretty much every other cryptocurrency, that tumbled in value on Monday.
DogeCoin is down more than 30%, to 17.6 cents. That’s a huge fall from its stratospheric high of 70 cents back in April. Bitcoin is at $31,500, a fall of just over 10%, while Ethereum has crumbled 15%. Ether’s fall has affected thousands of altcoins, most of which are built off the Ethereum blockchain and have a chunk of their value weighted in Ether coins. The entire market is down 12%, according to CoinBase.
What’s the reason? China — again. Back in May, Chinese officials reaffirmed an old ban that forbids financial firms from actively aiding in the mining and selling of cryptocurrencies. It caused a big dip, but crypto enthusiasts shrugged that the ban is nothing new, that it had enshrined in 2013 and then sparsely enforced.
Dogecoin ROI
If you purchased a single Dogecoin at the 52-week low of $0.0023 and sold it at today’s price of $0.22, you’d earn around $0.22 for a positive return of 98.99%. If you’d like to start investing in Dogecoin, you’ll need a crypto exchange to get started. Remember, you may have to pay taxes on any gains you realize.
Alternatively, if you purchased a single Dogecoin at the 52-week high of $0.74 and sold it at today’s price, you’d have a negative return of $0.51.
Dogecoin Price Over Time
Dogecoin has fallen by 14.78% within the last 24 hours. Overall, its price today is relatively high compared to its 52-week low of $0.0023.
Over the past week, Dogecoin has hit a high of $0.34 and a low of $0.22.
The cryptocurrency, overall, has crept up during the past three months. Now it’s dropped to its current price of $0.22.
How Many Dogecoin (DOGE) Are There?
There are currently 130,115,982,363 Dogecoin in circulation. There’s no predefined maximum supply.
About Dogecoin
The cryptocurrency that took its name from a once-popular viral dog meme, may have been created as a lighthearted joke. But it’s no joke today. The crypto has exploded in value and gained 305% just within the past 90 days. Here’s everything you need to know about it.