Why Is Dogecoin Muted Today?

Dogecoin DOGE/USD traded nearly 1% lower at $0.13 over 24 hours leading up to early Wednesday morning.

DOGE was weaker along with other major coins as the global cryptocurrency market cap declined 0.8% to $1.7 trillion at press time.

Dogecoin Price Performance
Time-frame % Change (+/-)
24-hour -1%
24-hour against Bitcoin -0.3%
24-hour against Ethereum 0.3%
7-day -8.4%
30-day -10.3%

YTD performance


See Also: How To Get Free Crypto

The DOGE Factors

  • DOGE was among the coins that attracted the most mentions on Twitter. At press time, it was mentioned in 826 tweets, according to Cointrendz data. Bitcoin, Ethereum, and Cardano were the three most discussed coins.
  • The 24-hour trading volume for DOGE fell 21.2% to $563.48 million at press time, according to CoinMarketCap data.
  • Coinglass data showed that $1.31 million worth of DOGE futures were liquidated in the preceding 24 hours as the meme coin declined.

Cryptos In Wait-And-See Mode Ahead Of Fed Rate Move

Major cryptocurrencies adopted a “wait-and-see” mode ahead of a key interest rate decision by the Federal Reserve. The U.S. dollar was under pressure on Tuesday, which could result in an “upwards bounce on risk-on assets,” according to cryptocurrency trader Michaël van de Poppe. 

Dogecoin’s ‘Meme Game Is Strong!’

Litecoin LTC/USD creator Charlie Lee said Tuesday that the reason why DOGE enjoys a higher marketcap than LTC is because the latter’s “Meme Game Is Strong!” Lee said he would consider adding “Dogecoin” to his background image. On the same day, Lee revealed that DOGE had helped propel LTC’s hashrate to an all-time high. 

Cannabis Firm To Accept DOGE

The Green Guys, a CBD brand based out of Van Nuys, California said Tuesday that it has made headlines by “accepting Dogecoin.”

DOGE On The Web 

Dogecoin foundation artist “Dogememegirl” tweeted a meme Tuesday that highlighted the volunteers who keep the DOGE nodes running without the expectations of any rewards. 

Dogememegirl said, “This is what makes #Dogecoin unique, and special. Thank you all the Node runners. You guys are awesome!”

Read Next: Self-Proclaimed Satoshi Nakamoto Sues Coinbase, Kraken Over ‘Fake’ Bitcoin Sales

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