The Dogecoin army has been closely monitoring the meme coin’s depreciating value week by week. DOGE has lost an enormous amount of value from its all-time high on May 8, 2017, despite the fact that it remains one of the top 12 cryptocurrencies. Monday’s Coingecko statistics reveals that DOGE is trading at $0.054143, a decrease of 34% over the previous week. More than a year ago on this date, DOGE was trading at $0.739 per unit. Today, the 24-hour price range for this cryptocurrency asset is between $0.064 and $0.07 per coin. Dogecoin is widely regarded as the first “meme coin,” having been founded as a joke by Jackson Palmer and Billy Marcus in 2013 to poke fun at the abundance of altcoins flooding the market. Suggested Reading | Ether Drops Below $1,400, Pummeled By US Inflation And Difficulty Bomb Setback Dogecoin And Its Lost Glory As of this writing, the market capitalization of Dogecoin is $8.68 billion, which represents 0.755% of the $1.15 trillion crypto economy. DOGE is ranked below Solana (SOL) and Polkadot (DOT) in terms of market position, despite having the 11th biggest market capitalization (based on Monday’s Coingecko chart) DOGE is down over 91% since Elon Musk’s performance on Saturday Night Live on May 8, 2021. That evening, Musk delivered a series of monologues and skits that frequently mocked Dogecoin. The price of Dogecoin has continuously risen as a result of Musk's...
