The times are changing ! This is even more true in crypto! While Dogecoin dominated the news at the start of 2021, crypto seems to have lost some of its luster ever since! Thus, in all discretion, the Dogecoin recedes in the ranking of cryptos …
Dogecoin drops in the ranking of global cryptocurrencies
It is not so long ago that the Dogecoin proudly displayed its fourth place in the world ranking cryptos in terms of capitalization. With more than $ 73 billion in capitalization, at the beginning of May 2021, Dogecoin was thus just behind Bitcoin, Ethereum and Binance Coin.
Then a slow decline occurred. First of all the Cardano came to supplant the Dogecoin around May 16, 2021. At the present time, the Dogecoin is now the ninth largest crypto in the world with an estimated capitalization of (only) 33 billion dollars. The capitalization being directly based on the price of the crypto, this ranking can quickly change … as long as Elon Musk plays the tweet ?!
Dogecoin price at € 0.21, + 3% over the last 24 hours
At the time of writing this article, Dogecoin price is not at best. Located around € 0.21, this is 65% less than its record on May 8, 2021 with a price of € 0.6! However, the price of Dogecoin is not in free fall, just in slow regression. So over the last 7 days, the Doge’s price is almost stable. On the other hand, over the last 30 days its price has fallen by 15%.
The Dogecoin is therefore far from its past levels and even more from its promise to reach the moon! Recent crypto history has shown how much the price of this crypto was sensitive to Elon Musk’s twitter stimuli. In addition to the influence of Elon Musk, Dogecoin is sensitive to the movements of whales … or THE whale. Indeed, of the more than 131 billion DOGEs in circulation, more than 36 billion belong to a single address answering the mysterious name of “DH5y”.
The current situation of Dogecoin therefore presents opportunities for some investors. Indeed, the course of the DOGE is in standby mode. But the Dogecoin community including Elon Musk and the mysterious DH5y remains just as motivated to send Dogecoin to the moon. Is a new Dogecoin takeoff coming soon?