Dogecoin was one of the cryptocurrencies that took a heavy blow from a market crisis that broke out in March, resulting in a precipitous decline in its market capitalization. According to a chart by Coingecko on Friday, Dogecoin (DOGE) is trading at $0.079378, a decrease of 4.1% over the past week. Its most recent price activity resulted in a market cap of $10,637,807,407 USD. The popular cryptocurrency inspired by memes finished the month of May with a market cap of approximately $11.4 billion. Dogecoin Market Cap Down 35% Dogecoin’s market capitalization decreased from May 9 to May 13 as a result of a general bearish market that intensified throughout this period. Increasing interest rates, inflation, and the preference for less volatile assets such as metals were among the economic variables that led to a major selloff of DOGE. Suggested Reading | Axie Infinity Revenue Continues To Collapse – Here’s Why Meanwhile, recent attention has been drawn to Dogecoin as a result of Elon Musk’s potential purchase of Twitter. Reportedly, the social media platform is providing the billionaire with data that covers the more than 500 million tweets posted each day, potentially putting closure to the Tesla CEO’s contention. After Musk first said that he would spend $43 billion to buy Twitter, the market value of Dogecoin went up by about $1 billion, from $18.45 billion to $19.35 billion in 10 days (Financial Times). ...
