Several Dogecoin (CRYPTO: DOGE)-inspired coins were seen crashing at press time leading up to Monday evening.
| 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 |
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
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.
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
FREE REPORT: How To Learn Options Trading Fast
In this special report, you will learn the four best strategies for trading options, how to stay safe as a complete beginner, a 411% trade case study, PLUS how to access two new potential winning options trades starting today.Claim Your Free Report Here.
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.
Crypto maybe down but the impact we can make today remains.
— Baby Doge (@BabyDogeCoin) May 9, 2022
Proud to see a difference being made possible by #BabyDogeArmy & @AnimalLeague pic.twitter.com/zYY3kBHG6n
Shiba Predator took aim at DOGE in a Tweet on Monday through a meme.
When it comes time to sink or swim, the $QOM always rises to the top. #flipshiba pic.twitter.com/5039Q0CLxZ
— QOM - Shiba Predator (@ShibaPredator1) May 8, 2022
Read Next: Whaattt...Do Spies Really Use Dogecoin In This World?