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The Price of Dogecoin has Fallen Sharply, After Carving Record Highs

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The price of Dogecoin has fallen sharply
The price of Dogecoin has fallen sharply

PERDANA CRYPTO – The price of Dogecoin has fallen sharply after setting a new all-time high on Wednesday (5/5), breaking the US $ 0.69 level.

Referring to CoinDesk data, Dogecoin’s price fell below the US $ 0.6 level. Thursday (6/5) at 21.50 WIB, DOGE was at US $ 0.609938, down 6.17% compared to the position 24 hours earlier.

Even so, some crypto market players say Dogecoin’s volatility is its main attraction, with a mix of retail investors and market makers driving up its trading volume.

Read More: Investing in Dogecoin from the Beginning of 2021, up 14,000%!

“The bad truth is that a lot of crypto valuations are separate from reality,” Joseph Edwards, Head of Research at Enigma Securities, a crypto broker, told Reuters.

The incredible ascent of the meme-based crypto asset on Wednesday made Dogecoin currently the fourth most valuable in the world. The price of Dogecoin has fallen sharply.

Hitting the level of US $ 0.69, since the beginning of the year, Dogecoin has jumped 13,611% and jumped 1,017% in the last 30 days, according to Messari data.

Its surging popularity has now seen DOGE overtake XRP as the fourth largest crypto asset by market cap on Messari and CoinMarketCap.

Read More: Favorite Crypto This Week, Including BNB & Doge

Dogecoin is currently worth a total of the US $ 84.2 billion, while XRP has slipped to sixth with the US $ 55.9 billion. While bitcoin (BTC) remains king with a capitalization of over US $ 1 trillion.

(red/kontan)

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