Dogecoin Continues To Whimper Even As Elon Musk Hits Key (Ahem) Twitter Milestone

Dogecoin DOGE/USD traded 7.8% lower at $0.16 over 24 hours leading up to early Thursday morning.

What’s Moving? The meme cryptocurrency has declined 8% over a seven-day trailing period.

DOGE traded 0.9% against Bitcoin (BTC) over 24 hours and rose 1.23% against Ethereum (ETH) in the same period.

The twelfth-largest cryptocurrency by market cap has fallen 12.3% over the last 30 days. It has dropped 36.1% in a 90-day period. Since 2022 began, DOGE has lost 9.9% of its value.

DOGE touched an all-time high of $0.74 in May 2021.

See Also: How To Buy Dogecoin (DOGE)

Why Is It Moving? DOGE fell sharply alongside other major coins at press time as the global cryptocurrency market cap decreased 8.25% to $2 trillion.

DOGE was among the “Top 10 Mentions” on the Twitter list maintained by Cointrendz. At press time it attracted 1,559 tweets.

The three most mentioned coins on the list were Bitcoin, Ethereum, and Solana. They attracted 15,126, 6,185, 2,492 tweets, respectively.

Major coins, including BTC and DOGE, were down Wednesday night after released minutes from December’s Federal Open Market Committee meeting indicated that interest rate hikes could come sooner than expected.

DOGE-bull and Tesla Inc TSLA CEO Elon Musk touched 69 million followers on Twitter. Musk seemingly posted "nice" in acknowledgment of the event.

nice pic.twitter.com/koyqZA1VR8

— Lolli 🍭 (@trylolli) January 6, 2022

Musk is known to make references to 69 and 420 in his tweets. The number 69 has sexual connotations while 420 is associated with cannabis culture.

DOGE will have to jump over the $0.176 mark to negate the lower wick confirming downtrend, according to Benzinga’s Melanie Schaffer.

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