Investment

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Why is Dogecoin Falling

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Dogecoin is doing more than falling in value, forcing investors to wait for the bottom to fall out before it can recover. However, a fandom battle is brewing among proponents of Shiba Inu, Safemoon, and Dogecoin. Recently, Dogecoin has been losing on every front, dropping 2.2% in the last 24 hours, losing over 20% in the past 7 days, falling over 28% in 30 days, and dumping over 21% year-to-date. As Dogecoin fell, it lost value with Bitcoin and Ethereum. Meanwhile, Fantom jumped to the 3rd-most mentioned token on Twitter ($TWTR@US). Crypto analysts are noting that this is not the same as other downturns in the crypto market because these tokens can regain their value in the forthcoming months. A recent poll from CoinMarketCap showed that investors are most confident in Shiba Inu and Safemoon, outpacing Dogecoin by nearly 10%. Finally, Dogecoin co-founder Billy Markus a key signal of a bear market, ”people start talking about the tech again.” At press time, Dogecoin was sitting at 12.83, down nearly 8% on rising volume and a slight drop in its market cap.

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