Dogecoin’s Big Day Begins With a Whimper

Dogecoin’s Big Day Begins With a Whimper
Andrew Rummer

almost 3 years ago1 min

As investors in dogecoin, the crypto token started as a joke in 2013 to highlight the excesses of the sector, mark Dogeday on Tuesday, the price is – so far – failing to play ball. 

Dogecoin dropped 3.2% in the past 24 hours to $0.3915 as of 8:35am New York time. Although it’s still up more than 19,000% over the past year. 

At least some very active whales in the market have sold today, according to BitInfoCharts data. This wallet, holding more than $3 billion in dogecoin on Monday, sold nearly $280 million worth of the token overnight, for example. 

Of course, with the volatility seen in dogecoin in recent weeks, it would be easy for the token to leap into the green later in the day. And there’s plenty of time left for the dank memes to do their work. 

But perhaps dogecoin’s best days are behind it. After all, it’s the best performing crypto token over the past month, past quarter, and past year, according to Blockchain Center.

Currently, 71% of people responding to a CoinGecko survey said they feel good about dogecoin. We’ll have to wait until later to see if that optimism proves unfounded.

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