Dogecoin may be losing steam, as the meme coin’s price has taken another 3% hit today, leading to the asset’s market cap dipping below Cardano’s market cap.
Dogecoin Cools Down After Showing Strong Bullish Momentum
Until just a couple of days back, Dogecoin seemed to have finally been putting together some promising bullish momentum, as the asset had managed to breach the $0.083 level. In these past two days, though, the coin has once again slipped up, as its price has registered a notable drawdown.
Following the latest 3% decline in the meme coin during the past day, its value is trading around $0.0767. The below chart shows how DOGE’s price has changed recently.
Looks like the value of the coin is still overall up in the last few days | Source: DOGEUSD on TradingView
Even with the drop in the last couple of days, however, Dogecoin hasn’t yet entirely erased the recovery it has made recently, as the coin remains at gains of more than 6% during the past week.
With these profits, DOGE is still the best-performing among the top assets in the sector, since most of the market is in the red at the moment. With the meme coin appearing to lose steam, though, it’s uncertain how long this will remain true.
Recently, Dogecoin climbed up the market cap ranking and attained the 7th spot, meaning that the coin had become the 7th-largest in the sector.
But with this decline, the asset’s total valuation has naturally taken a hit, leading to Cardano retaking the spot from the meme coin.
DOGE's market cap is $10.7 billion currently | Source:
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Author: Hououin KyoumaDid you like this?
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