Since hitting an all-time high of $0.73 in May, Dogecoin has shed more than 70% of its value—and in the past month alone it’s dropped 36%.
The cryptocurrency’s stellar rise had been helped along by the mercurial founder of Tesla and SpaceX, Elon Musk, as well as promises of new upgrades to the technology.
In a tweet on July 9, Musk took aim at both Bitcoin and [/linkEthereum for their slow transaction times. He added that improving Dogecoin to minimize transaction costs has “merit.” The commentary revealed continued evidence of Musk’s ability to control markets, pumping Dogecoin more than 13%.
However, DOGE has since shed all of those gains. The popular meme coin is down over 5% in the past 24 hours, 14.8% over the past week and a whopping 36% over the past month.
Bitcoin tracks sideways
The broader crypto market has also been struggling of late, too. Bitcoin has traded between $36,000 and $30,000 for the past few weeks, with the second-place crypto, Ethereum, doing much t
Źródło: https://decrypt.co/75824/dogecoins-week-long-slump-continues-bitcoin-trades-sideways
