Why Is Dogecoin Slipping Today?

Dogecoin DOGE/USD traded nearly 1.5% lower at $0.12 over 24 hours leading up to early Monday morning. 

Dogecoin Price Performance
Time-frame % Change (+/-)
24-hour -1.5%
24-hour against Bitcoin -2%
24-hour against Ethereum -1.06%
7-day -5%
30-day -19.2%

YTD performance


See Also: How To Buy Dogecoin (DOGE)

Why Is It Moving? DOGE traded lower alongside other major coins as the global cryptocurrency market cap decreased 3.3% to $1.7 trillion at press time.

DOGE was among the most mentioned coins on Twitter. It attracted 263 tweets at press time, according to Cointrendz data.

The three most mentioned coins — Bitcoin, Ripple, and Ethereum — attracted 1,787, 1,048, and 717 tweets, respectively. 

Cryptocurrencies traded down with other risk assets as the conflict between Russia and Ukraine got more entrenched. Major coins remained depressed throughout the weekend.

DOGE’s relative strength index (RSI) has been falling over the past weeks and is currently at 39 — this is indicative of selling pressure dominating the market, according to Benzinga’s Tyler Bundy. 

DOGE co-creator Billy Markus tweeted on the downwards price movements of cryptocurrencies early Monday morning. He said, “the goal of crypto gambling shouldn’t be to get rich.” 

Dogecoin Chatter: Markus took a dig at Bitcoin maximalists on Sunday as the prices of the apex coin slipped.

Markus put out a number of tweets digging deep into maximalists.

Read Next: New Survey Finds Dogecoin Among Top Crypto Investments For Both Men And Women

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