Meme Token King Dogecoin Lost 91% in Value Since Last Year’s High, DOGE Mining Revenue Plummets – Market Updates Bitcoin News

After a outstanding rise final 12 months, 2022 has not been too form to the highest meme coin asset dogecoin. At present, the daddy of the meme coin financial system, dogecoin, has misplaced 91% in worth for the reason that crypto asset’s all-time excessive. Regardless of the drop, dogecoin continues to be a high ten contender among the many largest crypto market valuations right this moment.

The Dogecoin Canine Days — Meme Token King Sheds Important Worth

Dogecoin followers have been watching the most important meme coin asset plummet in worth week after week. Whereas it’s nonetheless a high ten cryptocurrency, dogecoin (DOGE) has misplaced a whole lot of worth for the reason that asset’s all-time excessive on Might 8, 2021. Over a 12 months in the past right this moment, DOGE exchanged palms for $0.739 per unit and right this moment the 24-hour value vary for DOGE has been between $0.064 to $0.072 per coin.

Binance DOGE/USDT every day chart on June 12, 2022.

On Sunday, June 12, 2022, there’s $567 million in worldwide DOGE commerce quantity throughout the previous 24 hours. Dogecoin’s market valuation right this moment is $8.68 billion which equates to 0.755% of the $1.15 trillion crypto financial system. Whereas being the tenth largest market cap, DOGE is under solana (SOL) and simply above polkadot (DOT) when it comes to market positions.

Whereas 91% down from the all-time excessive is fairly vital, DOGE continues to be up a whopping 75,260% for the reason that asset’s all-time low on Might 6, 2015. At the moment, seven years in the past right this moment, DOGE was buying and selling for $0.00008690 per unit. Dogecoin’s current market efficiency has not been so optimistic as 12-month stats present DOGE is down 79.3%.

DOGE misplaced 21% in 30 days, and 19.9% of that share was eliminated throughout the previous two weeks. Immediately, your entire meme-coin financial system is valued at $14.4 billion and DOGE equates to 60.27% of that worth. The remaining is occupied by shiba inu (SHIB) and the myriad of meme coin cryptos that have been born throughout the previous 12 months.

Moreover, DOGE mining income misplaced greater than 76% final 12 months. Out of 15 totally different mineable crypto belongings, DOGE is the eleventh most worthwhile on the checklist. DOGE miners reached a hashrate all-time excessive on April 23, 2022, at block peak 4,196,514 when it reached 1.34 petahash per second (PH/s).

Immediately, the DOGE hashrate is coasting alongside at 362.97 terahash per second (TH/s), which is a 72.91% drop from the 1.34 PH/s excessive. Each DOGE mining income and the general hashrate plummeted an incredible deal throughout the previous two months. Whereas DOGE has been down in worth an incredible deal, it’s not the meme coin’s first bear market.

DOGE has been via troublesome instances over the past decade and it’ll arguably survive longer than a number of the newer meme coin belongings that have been created over the past 12 months. The one different meme coin that comes near DOGE is shiba inu (SHIB) with its $5.15 billion market valuation.

Tags on this story
Doge, Doge Army, Doge Price, Doge value, dogecoin, Dogecoin (DOGE), Dogecoin Markets, Dogecoin price, dogecoin value, Meme Coin, Meme Economy, Meme Token, Meme Token Assets, Meme Tokens, shib, shiba inu

What do you consider DOGE falling in worth over the past 12 months and the hashrate dropping since April? Tell us what you consider this topic within the feedback part under.

Jamie Redman

Jamie Redman is the Information Lead at Bitcoin.com Information and a monetary tech journalist dwelling in Florida. Redman has been an lively member of the cryptocurrency group since 2011. He has a ardour for Bitcoin, open-source code, and decentralized functions. Since September 2015, Redman has written greater than 5,000 articles for Bitcoin.com Information in regards to the disruptive protocols rising right this moment.

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