Dogecoin Slumps Alongside Other Cryptos: Why Shibes Are Knocking On Twitter's Door With Puppy Eyes

Dogecoin DOGE/USD traded nearly 1% lower at $0.15 in the early hours of Thursday amid a general downturn in cryptocurrencies. 

See Also: How To Buy Dogecoin (DOGE)

Why Is It Moving? DOGE traded lower alongside other major coins as the global cryptocurrency market cap fell 4.6% to $1.9 trillion at press time.

DOGE was among the most mentioned coins on Twitter at press time. It attracted 194 tweets, according to Cointrendz data.

The three most mentioned coins — Bitcoin, Ethereum, and Cardano — attracted 1,571, 1,120, and 533 tweets, respectively. 

The Federal Open Market Committee (FOMC) minutes from January indicate that the U.S. Federal Reserve is readying to combat the prevailing high inflation. GlobalBlock analyst Marcus Sotiriou noted that the recent rally in the apex coin was driven by futures while spot markets were selling. 

DOGE consolidated ahead of the release of FOMC minutes. On Wednesday, DOGE was printing an inside bar on its daily chart, which is a sign of consolidation, according to Benzinga’s Melanie  Schaffer.

Recently, Berkshire Hathaway Vice Chair Charlie Munger likened Cryptocurrency to a "venereal disease."

DOGE co-creator Billy Markus said he liked this story and that “doing awesome stuff is hard [as f**k].”

Dogecoin Chatter: Mishaboar, a DOGE-oriented Twitter handle, urged his followers to sign a petition, requesting Twitter to add DOGE wallet support to the tipping feature on the platform. Notably, Twitter enabled support for Ethereum Tips on Wednesday.

“@Twitter, can we have $DOGE please????” asked the petition pointing out that DOGE has the “lowest transaction fee of other major coins.”

Meanwhile, Markus tweeted that since February 17 is "Random Act of Kindness Day" it goes wonderfully well efforts to get #dogecoin trending.

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