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Dogecoin (DOGE) Knockoffs Crash Heavily — One Down 93%

Several Dogecoin (CRYPTO: DOGE)-inspired coins were seen crashing at press time leading up to Monday evening.

Top 24-Hour Movement For Dogecoin/Dogecoin-Inspired Coins (Data via CoinMarketCap)
Cryptocurrency 24-Hour % Change (+/-) Price
Dogecoin (DOGE) -14.9% $0.10
Shiba Inu (SHIB) -22.1% 0.0000145
Shiba Predator (QOM) -40.1% ​​$0.00000009
Lucky Doge (LUCKYDOGE) -38% ​​$0.0000037
Baby Doge (BabyDoge) -18.4% ​​$0.0000000014
Dogelon Mars (ELON) -12.8% ​​$0.0000007
TeddyDog (TDG) -92.8% ​​$0.000000001299

What’s Happening? 

The decline in the DOGE-knockoffs took place amid a widespread rout in the markets at press time. The global cryptocurrency market cap decreased 10.4% to $1.4 trillion.

Bellwether meme coin DOGE dropped nearly 15% at press time over 24 hours to 10 cents. A strong 141% rise in 24-hour trading volumes of DOGE took place simultaneously. At press time, the 24-hour trading volume was $1.68 billion.

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At press time, according to Coinglass data, $15.12 million worth of DOGE futures were liquidated as the meme coin dropped sharply.

Shiba Inu, a self-described DOGE-killer, was seen trending on CoinMarketCap at press time and was down nearly 22% at press time.

Markets Down On Recession Worries

OANDA Senior Market Analyst Edward Moya said growth and recession worries have created a “very difficult environment” for cryptocurrencies.

Reactions On The Web

The official Twitter handle of Baby Doge noted the erosion in the markets but tweeted out a positive message.

Shiba Predator took aim at DOGE in a Tweet on Monday through a meme.

Read Next: Whaattt...Do Spies Really Use Dogecoin In This World?

Posted In: dogecoinShiba InuCryptocurrencyNewsMarketsMoversTrading Ideas

CUT THROUGH THE CRYPTO NOISE: Discover which projects will have the brightest future in 2023 at the Future of Crypto by Benzinga conference on December 7, 2022 in New York City.