Why Is Dogecoin Price Dropping Lower Today?

Dogecoin DOGE/USD fell 1.97% to $0.27 over 24 hours early Thursday morning.

What’s Moving? The meme cryptocurrency has declined 12.57% over a seven-day trailing period.

Against larger peers — Bitcoin and Ethereum — DOGE fell 1.54% and 2.43%, respectively, over 24 hours.

DOGE has gained 11.4% over the last 30 days and 33.14% over a 90-day period. Since the year began, it has shot up 4598.23%.
See Also: How To Buy Dogecoin (DOGE)

Why Is It Moving? DOGE declined alongside other major coins, which largely traded flat, as the global cryptocurrency market cap fell 0.21% to $2.74 trillion.

Major cryptocurrencies were subdued after the U.S. Federal Reserve indicated Wednesday that it would begin tapering of its monthly asset purchases before the end of November. 

DOGE was not noted among the list of “Top 10 Mentions” on Twitter as arranged by Cointrendz at press time. However, rival Shiba Inu was included in the list.

Meanwhile, Dogecoin co-creator Billy Markus on Wednesday criticized “Dogecoin millionaire” Glauber Contessoto for promoting Floki Inu. 

Markus took issue with Contessoto’s remarks on the coin being a “way out” for those that missed the DOGE opportunity.

Contessoto revealed on Twitter that he had “dropped” $30,000 on Floki a few days ago and his investment was up $8,420.69 — which contain “meme numbers” 420 and 69. 

I dropped $30,000 on #Floki a few days ago and I’m already up $8,420.69 - meme numbers #DogMoney pic.twitter.com/ZXZMExL9Ky

— SlumDOGE Millionaire (@ProTheDoge) November 4, 2021

On Thursday, David Gokhshtein founder of Gokhshtein Media noted that DOGE had “helped the industry a lot” on Twitter and that he is still rooting for the coin to which Markus said Gokhshtein’s face has helped the industry.

your FACE has helped the industry

— Shibetoshi Nakamoto (@BillyM2k) November 3, 2021

“I don’t know if this is a compliment — but if it is — I definitely appreciate it,” replied Gokhshtein.
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