2-Month Stats Show Meme-Based Crypto Is Down 76% – Altcoins Bitcoin News

The infamous meme-based crypto asset dogecoin has had an incredible 12 months, rising more than 5,578% against the U.S. dollar. Dogecoin also ignited significant demand for a number of canine-themed cryptocurrencies this year as billions of dollars have funneled into these meme-coin economies. However, in recent times the original dogecoin has faltered, and over the last three months has shed 46.24% of its value.

Despite Being Down 76% Since the Meme Token’s All-Time High, 12-Month Stats Show Dogecoin Is Still up Over 5,000%

For many years, dogecoin (DOGE) spent its life trading below a U.S. penny — from 2014 all the way until January 2021. But much to the co-creator of dogecoin’s dismay, DOGE has surged in value during the last year against the U.S. dollar, gaining a whopping 5,578%.

Against bitcoin (BTC), DOGE has jumped 1,551% over the last 12 months. Still, after all those gains dogecoin has slid immensely in value following the rest of the crypto market’s downturn.

Dogecoin's Downward Slide: 2-Month Stats Show Meme-Based Crypto Is Down 76%On Saturday, July 17, dogecoin (DOGE) has been trading for $0.17 per unit after reaching $0.737 per unit two months ago. The well-known meme crypto is now down more than 76% from the crypto asset’s all-time high (ATH). Seven-day statistics show DOGE has lost 18% this week, and 30-day stats show a loss of more than 43% during the last month.

Dogecoin still has a very large market capitalization with $23 billion at the time of writing. The DOGE market cap is much larger than the coin’s ERC20 competitor, shiba inu (SHIB), which has a $3.3 billion market valuation today.

Baby Doge Sheds 63% This Week, Yooshi Token and Elondoge Gather This Week’s Double-Digit Meme Token Gains

In terms of percentages down from the ATH, dogecoin is down a lot more than many coins in the top twenty positions. Compared to dogecoin’s competitors like SHIB, dogecoin lost more weekly gains than SHIB’s 15% losses this past week.

However, baby doge (BABYDOGE) has lost a…

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