Dogecoin Loses 32% After the Celebration of DOGE Day
Dogecoin that is being pumped in the social media actively and supported by Elon Musk, dropped 32% after celebrating the so-called DOGE day. The meme coin was created as a joke but now has more capitalization than Polkadot and Cardano who offer real blockchain solutions. Now it goes sixth in the top of most capitalized cryptocurrencies in the world.
The pump escalated before the DOGE day and overall DOGE added 250% within a week before it, reaching the price of $0.418. The very next day it tremendously fell down to $0.285, having caused a lot of noise in the crypto media. Now it seems to start the recovery; at the moment this article was written it cost $0.329.
It can’t be called an unexpected way for the DOGE, because in most of the cases fast skyrocketing growth of the crypto asset ends up with falling at the same speed. April 20th was chosen to become a memorable day for the meme coin due to a massive campaign in the social media that even expanded into the non-crypto circles and mass media.