{"id":492750,"date":"2022-06-10T12:45:00","date_gmt":"2022-06-10T12:45:00","guid":{"rendered":"https:\/\/uniquehot.com\/?p=492750"},"modified":"2024-06-11T14:20:29","modified_gmt":"2024-06-11T14:20:29","slug":"dogecoin-market-cap-shed-6-b","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/dogecoin-market-cap-shed-6-b\/","title":{"rendered":"Dogecoin Market Cap Shed $6-B Last Month – Will Bearish Pressure Continue The Pulldown?"},"content":{"rendered":"

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.<\/p>\n

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.<\/p>\n

The popular cryptocurrency inspired by memes finished the month of May with a market cap\u00a0of approximately $11.4 billion.<\/p>\n

Dogecoin Market Cap Down 35%<\/h2>\n

Dogecoin’s market capitalization decreased from May 9 to May 13 as a result of\u00a0a 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.<\/p>\n

Suggested Reading |\u00a0Axie Infinity Revenue Continues To Collapse \u2013 Here\u2019s Why<\/a><\/em><\/strong><\/p>\n

Meanwhile, recent attention has been drawn to Dogecoin as a result of Elon Musk’s potential purchase of Twitter.<\/p>\n

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.<\/p>\n

\"\"<\/p>\n

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).<\/pre>\n
This week, Musk cast more doubts on whether he will complete a $44 billion agreement to acquire the social network.<\/p>\n
The closing market cap for Dogecoin in May was 35 percent lower compared to\u00a0the opening day market value for the month. DOGE saw a robust trading volume of $991 million which corresponded to a market cap of roughly $17 billion.<\/p>\n
Nearly two weeks later, DOGE started at $0.08464 and closed at $0.07004. The trading volume of the memecoin was roughly $2.63 billion, which amounted to a market capitalization of approximately $10.97 billion. Since May 1, DOGE’s market value has decreased by 37 percent.<\/p>\n
<\/p>\n
DOGE total market cap at $10.5 billion on the weekend chart | Source: TradingView.com<\/a><\/pre>\n
Musk’s Twitter Reveal Boosts DOGE Market Cap<\/h2>\n
Following Musk’s initial reveal of his $43 billion Twitter acquisition, Dogecoin’s market valuation jumped by about $1 billion, from $18.45 billion to $19.35 billion, in 10\u00a0days.<\/p>\n
Suggested Reading |\u00a0Bitcoin Market Cap Shed Over $120-B Last Month \u2013 How Much More Can It Lose?<\/a><\/em><\/strong><\/p>\n
Since then, however, the price of DOGE has decreased alongside the broader cryptocurrency market, particularly as Bitcoin plummeted below $35,000, dragging the bulk of altcoins down with it.<\/p>\n
Dogecoin began May at $0.1276, reached a monthly high of $0.1373 four days later, touched a monthly low of $0.07004 on May 12, and ended the month at $0.08586.<\/p>\n
Featured image from The Motley Fool, chart from TradingView.com<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"
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\u00a0of approximately $11.4 billion. Dogecoin Market Cap Down 35% Dogecoin’s market capitalization decreased from May 9 to May 13 as a result of\u00a0a 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 |\u00a0Axie Infinity Revenue Continues To Collapse \u2013 Here\u2019s 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). This week, Musk cast more doubts on whether he will complete a $44 billion agreement to acquire the social network. The closing market cap for Dogecoin in May was 35 percent lower compared to\u00a0the opening day market value for the month. DOGE saw a robust trading volume of $991 million which corresponded to a market cap of roughly $17 billion. Nearly two weeks later, DOGE started at $0.08464 and closed at $0.07004. The trading volume of the memecoin was roughly $2.63 billion, which amounted to a market capitalization of approximately $10.97 billion. Since May 1, DOGE’s market value has decreased by 37 percent. DOGE total market cap at $10.5 billion on the weekend chart | Source: TradingView.com Musk’s Twitter Reveal Boosts DOGE Market Cap Following Musk’s initial reveal of his $43 billion Twitter acquisition, Dogecoin’s market valuation jumped by about $1 billion, from $18.45 billion to $19.35 billion, in 10\u00a0days. Suggested Reading |\u00a0Bitcoin Market Cap Shed Over $120-B Last Month \u2013 How Much More Can It Lose? Since then, however, the price of DOGE has decreased alongside the broader cryptocurrency market, particularly as Bitcoin plummeted below $35,000, dragging the bulk of altcoins down with it. Dogecoin began May at $0.1276, reached a monthly high of $0.1373 four days later, touched a monthly low of $0.07004 on May 12, and ended the month at $0.08586. Featured image from The Motley Fool, chart from TradingView.com<\/p>\n","protected":false},"author":557,"featured_media":492755,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,83685,85842],"tags":[1785,7,8375,4257],"class_list":["post-492750","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-dogecoin","category-elon-musk","tag-doge","tag-dogecoin","tag-elon-musk","tag-twitter"],"acf":[],"yoast_head":"\nDogecoin Market Cap Shed $6-B Last Month - Will Bearish Pressure Continue The Pulldown?<\/title>\n<meta name=\"description\" content=\"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\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/dogecoin-market-cap-shed-6-b\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dogecoin Market Cap Shed $6-B Last Month - 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Dogecoin Market Cap Shed $6-B Last Month – Will Bearish Pressure Continue The Pulldown?","url":"http:\/\/uniquehot.com\/news\/dogecoin-market-cap-shed-6-b\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/dogecoin-market-cap-shed-6-b\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/06\/Dogecoin-1.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/06\/Dogecoin-1.png?fit=880%2C588"},"articleSection":"Dogecoin","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["doge","dogecoin","elon musk","twitter"],"dateCreated":"2022-06-10T12:45:00Z","datePublished":"2022-06-10T12:45:00Z","dateModified":"2024-06-11T14:20:29Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Dogecoin Market Cap Shed $6-B Last Month – Will Bearish Pressure Continue The Pulldown?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/dogecoin-market-cap-shed-6-b\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/dogecoin-market-cap-shed-6-b\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/06\\\/Dogecoin-1.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/06\\\/Dogecoin-1.png?fit=880%2C588\"},\"articleSection\":\"Dogecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"doge\",\"dogecoin\",\"elon musk\",\"twitter\"],\"dateCreated\":\"2022-06-10T12:45:00Z\",\"datePublished\":\"2022-06-10T12:45:00Z\",\"dateModified\":\"2024-06-11T14:20:29Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/06\/Dogecoin-1.png?fit=880%2C588","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/492750"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=492750"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/492750\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/492755"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=492750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=492750"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=492750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}