Why Is Dogecoin Not Keeping Pace With Major Cryptocurrencies Today?

Dogecoin

traded 1.1% lower over 24 hours early Friday.

What’s Moving? The meme cryptocurrency has fallen 5.37% over a seven-day trailing period.

DOGE traded 4.3% and 6.3% lower against major cryptocurrencies Bitcoin and Ethereum over 24 hours.

Since the year began, DOGE has appreciated 4000% after touching an all-time high of $0.74 earlier in May.

Why Is It Moving? DOGE did not move in tandem with major coins which traded in the green at press time when the global cryptocurrency market cap rose 2.7% to $2.44 trillion.

The meme coin received moderate interest on Twitter at press time. It was mentioned in 1,303 tweets, as per Cointrendz data.

The most interest was seen in BTC and Solana at press time. BTC and SOL were mentioned in 7,432 and 6,033 tweets, respectively.

On Thursday, Ki Young Ju, CEO of CryptoQuant, an analytics platform noted that the trend of Bitcoin whales moving assets began last month, and “these are not from exchanges.”

Meanwhile, DOGE has lost 70% of its value against Bitcoin, according to Cointelegraph. DOGE hit its lowest against BTC in over half a year reaching the price of 0.00000412 BTC on Oct. 14. This is a steep decline from the highs of 0.00001284 BTC seen in April.

The coin saw its latest surge on Thursday after Tesla Inc

TSLA+3.02%+ Free Alerts

CEO Elon Musk sent out three coins related to DOGE including one that responded to a “Squid Game” meme posted by Billy Markus, the co-creator of the coin.

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