An Internet joke that may have gone too far, Dogecoin now makes up 1% of the total value of the biggest 250 cryptocurrency coins as of June 2022 – which is no small feat.
Created back in 2013, only the smallest pockets of the Internet could see Dogecoin growing to what it is today. While its current value is not much compared to the crypto giants, Dogecoin’s price has soared since its inception and peaked at $0.73 back in May 2021. The current price of Dogecoin is $0.08, which is 38% lower than what it was only one month ago.
All prices are quoted in US dollars.
The chart above is an index that compares the performance of both Dogecoin and Bitcoin over the last 90 days. An increase in the index from 100 to 110 would represent a 10 percentage point increase in the value of that coin. Bitcoin has decreased by 28% over the last 3 months while Dogecoin has decreased by 8% over the same period.
Over the last 24 hours, the price of Dogecoin has changed by -$0.005, with a 24-hour low of $0.08 and a high of $0.09. The number of Dogecoin currently in circulation is 132,670,764,300, with no maximum supply cap in place.
Dogecoin is the tenth biggest cryptocurrency in terms of market capitalization (total value in existence) and there is currently $11 billion worth of Dogecoin out in the wild. Dogecoin surpassed a market cap of $90 billion for the first time in May 2021. Bitcoin, the most popular cryptocurrency, has a market cap of $569 billion.
Over the last 24 hours, there has been $1 billion worth of Dogecoin traded. The graph below depicts the volume of Dogecoin traded daily. This figure can be somewhat volatile, with $360 million being traded on one of its worst days and $7 billion on one of its best.
The price of Dogecoin can also be very volatile with Elon Musk seen as the biggest contributor to major price swings. On 8 May 2021 he appeared on Saturday Night Live and spoke about Dogecoin, which caused its price to drop by 35%. While there are some excellent guides out there covering how to invest in Dogecoin, it would be wise to invest with caution.
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